Key notes
- The Swiss National Bank refuses to add bitcoin to its reserves due to market instability.
- Martin Schlegel says that cryptocurrencies do not have the necessary liquidity for national reserves.
- Crypto Advocates is launching a referendum campaign to put pressure on Bitcoin and gold in the reserves.
The president of the Swiss National Bank (SNB), Martin Schlegel, said that the central bank did not intend to add Bitcoin to its reserves due to the risk of stability associated with cryptocurrency.
This occurs after the local cryptography industry has intensified its calls for the use of Bitcoin as coverage against the impact of American trade policies on Switzerland under President Donald Trump.
On April 25, the SNB’s head told Reuters that he disagreed with the position of crypto enthusiasts, declaring that digital assets did not meet the currency reserve standards.
At the meeting of SNB stakeholders in Bern, Schlegel said that cryptocurrencies do not meet the necessary standards and stressed the importance of maintaining constant liquidity of the market for the purchase and sale of foreign currencies.
Referendum proposal
In an effort to make changes, the defenders of the crypto in Switzerland launched a referendum campaign to modify the Constitution, which would oblige the Swiss National Bank to hold bitcoin and gold in its reserves if it was approved.
One of the activists of this change is a founder of Bitcoin Initiative, Luzius Meisser. Meisse believes that once the SNB holds Bitcoin, it will be covered against the current weakening of the dollar and the euro. The activist also revealed that “Bitcoin outfit makes sense when the world moves to a multipolar order”.
My declaration to the General Assembly of the Swiss National Bank. The video follows when available. pic.twitter.com/l0k2nkabzk
– Luzius Meisser (@Luzius) April 25, 2025
As a supporter, Meisser added that change would reduce the political influence associated with the country’s exchange reserves. He also said that BTC’s offer cannot be swollen by politicians, unlike traditional currencies such as the USD and the Euro.
The referendum proposal was created at the end of December 2024 by the Swiss Federal Chancellery. For the proposal to trigger a referendum, it must bring together 100,000 signatures.
As a global attitudes towards the change of cryptocurrency, several countries follow in the footsteps of Donald Trump.
The South Korean presidential candidate Hong Joon-Pyo, for example, is committed to stimulating the development of blockchain and the deregulation of crypto, reflecting the policies observed in the United States under President Trump.
Its plans include an investment of 35 billion dollars + in emerging technologies, with blockchain in the foreground, which contrasts strongly with the current position of South Korea on cryptographic regulations.
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Rose is a writer of cryptographic content with solid experience in finance and technology. It simplifies complex blockchain and cryptocurrency subjects, offering insightful articles and market analysis to help readers sail in the evolving cryptography landscape.
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