The chairman of the Swiss National Bank (SNB) reportedly isn’t convinced it’s in his institution’s best interest to hold Bitcoin (BTC) as a reserve currency.

While speaking at the central bank’s annual general meeting on Friday, Thomas Jordan argued that there are downsides to holding the top crypto asset, according to a report from Reuters.

“We have not yet decided that we want to invest in Bitcoin. Actually for good reasons. Currency reserves are international payments. They have to be liquid. They have to be sustainable. And we have to be able to sell and buy them.”

Cypto stakeholders have been campaigning for the SNB to hold a portion of its currency reserves in BTC.

Luzius Meisser, chairman at the crypto financial services provider Bitcoin Suisse, laid out his case for BTC investing at the SNB’s annual general meeting.

“One of the interests of Switzerland and the Swiss people is to have a safe and stable currency. I firmly believe that it would strengthen the Swiss franc and the independence of the Swiss National Bank if we spent less on loss-making government bonds and started HODLing Bitcoin.”

Bitcoin is trading at $63,002 at time of writing. The top-ranked crypto asset by market cap is down over 2% in the past 24 hours.

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The post Swiss Central Bank’s Chairman Says He’s Dubious About Holding Bitcoin as a Reserve Currency: Report appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ April 27, 2024 7:14 pm