JUST IN:

Switzerland Central Bank Considering Bitcoin as a Potential Reserve Asset.

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$BTC #SwissNationalBank #Bitcoin❗️

🇨🇭A "real money equivalent," says #SNB chairman.

"This is not just an experiment, it will be real money equivalent to bank reserves and the aim is to test real transactions with market participants," the bank's chairman, Thomas Jordan, told Reuters at the Point Zero Forum.

However, the financial authority did not rule out expanding the project at some point in the future. "We don't exclude that we will ever introduce [CBDC] retail, but, nevertheless, we are a bit cautious at this point," he said.

#SwissNationalBank #crypto2023 #CBDC

#SwissNationalBank to launch wholesale #CBDC pilot

At a conference in Zurich on Monday, the president of the #SNB announced that the bank plans to issue a wholesale central bank digital currency (CBDC) on Switzerland's SIX digital exchange as part of a pilot project.

A wholesale CBDC is designed for financial institutions to use for #interbank transactions. A retail CBDC, on the other hand, is for use by the general public.

#crypto2023

⚠️ Bitcoin Warning from Chairman of Swiss National Bank ⚠️

🏦 The longest-serving governor of a major central bank expresses skepticism about adding Bitcoin to reserves, citing concerns about liquidity and sustainability.

📉 Bitcoin activist Yves Bennaim initiates a constitutional amendment to allow SNB to hold Bitcoin as a reserve asset, aiming for 100,000 signatures to trigger a referendum.

🗳️ Bennaim expects the referendum to fail due to Swiss conservatism, but aims to spark dialogue about the SNB, despite labeling himself a "toxic Bitcoin maximalist."

💼 In 2014, 78% of Swiss voters rejected an initiative to expand the central bank's gold reserves, highlighting a conservative stance.

📈 SNB currently holds significant gold reserves, totaling 1,040 tons, alongside foreign currency assets and Swiss franc financial assets.

🔄 Chairman Thomas Jordan announced his departure after 12 years, signaling a major change in leadership for the Swiss National Bank.

#BitcoinWarning #SwissNationalBank #CryptocurrencyAlert #Megadrop #Fed

In a rapidly changing financial landscape, #Switzerland 🇨🇭 has gone its own way.

The country does not belong to the European Union nor does it use the bloc's currency, the euro. Instead, Switzerland has its own currency, the #Swiss franc.

The Alpine nation has been considering its digital currency for some time. In January 2021, the country patented terms such as "e-franc" and "digital Swiss franc." However, the country's financial elite knew it wanted a wholesale-only option from 2020.

#CBDC #SwissNationalBank