đđWill the Swiss Central Bank Buy Bitcoin (BTC)? Central Bank President Announced! đđ
Thomas Jordan, president of the Swiss National Bank, stated that they are skeptical about purchasing Bitcoin, despite the campaign to add Bitcoin to the central bank's reserves. Jordan told Reuters that despite calls from campaigners to change Swiss laws to allow cryptocurrencies to be added to foreign exchange reserves, Bitcoin is a risky asset and the central bank has not yet decided to invest in Bitcoin.
Jordan emphasized that Bitcoin is not risk-free and pointed out that foreign exchange reserves must be liquid and sustainable for international payments. He also touched upon the importance of foreign exchange reserves being easily bought and sold when necessary. For these reasons, he stated that the Swiss National Bank has adopted a careful and cautious approach to investing in Bitcoin.
Although Switzerland has taken an open approach towards the cryptocurrency industry, its central bank's hesitancy to add Bitcoin to its foreign exchange reserves reflects central banks' general skepticism towards cryptocurrencies. The need for foreign exchange reserves to be liquid and sustainable is one of the main challenges central banks face when investing in cryptocurrencies.
This attitude of the Swiss National Bank shows that the debates about the place of cryptocurrencies in the traditional financial system and their acceptance as reserve assets continue. Bitcoin and other cryptocurrencies may pose certain risks to central banks and financial institutions due to factors such as volatility, liquidity and regulatory uncertainty. Therefore, it is natural that central banks are cautious about investing in cryptocurrencies.
