Key Highlights;
- Thomas Jordan expresses caution over adding Bitcoin to reserves.
- A recent push in Switzerland aims to get Bitcoin into the national reserves.
Yello ParadiseSquad! Thomas Jordan, the president of the Swiss National Bank, has made headlines with his latest remarks on Bitcoin. Amidst a growing campaign in Switzerland advocating for the central bank to include Bitcoin (BTC) in its reserves, Jordan provided a cautious perspective during the bank’s general assembly.
Bank’s Stance on Bitcoin
The Swiss National Bank remains hesitant to embrace Bitcoin, despite the enthusiasm from crypto proponents. Jordan highlighted the risks associated with Bitcoin and stressed the need for reserve assets to be liquid and reliable for international payments. “We have not yet decided that we want to invest in Bitcoin for good reasons actually. Foreign exchange reserves must meet certain criteria—they need to be liquid and sustainable,” he explained.
As the debate continues, the world watches to see if Switzerland, known for its financial innovation, will take a groundbreaking step towards integrating cryptocurrencies into its national reserves. Keep an eye on this space, traders, as any shift could send ripples through the crypto market!
