- The SNB President announced cryptocurrencies are unsuitable due to volatility.
- This decision impacts Bitcoin and other major cryptocurrencies.
- Community response is mixed on potential reserve inclusion.
SNB President Martin Schlegel stated that cryptocurrencies, including Bitcoin, are too volatile for reserve consideration on May 6.
The announcement affects cryptocurrency markets, potentially influencing major investor sentiment and blockchain adoption strategies.
Volatility Leads to Reserve Exclusion of Cryptocurrencies
SNB President Martin Schlegel expressed concerns over the high volatility of cryptocurrencies, like Bitcoin, rendering them unsuitable for reserve usage. Martin Schlegel further emphasized that, “Cryptocurrencies are not currently suitable due to their high volatility and questionable liquidity in crisis situations.” Schlegel’s comments follow ongoing debates about the role of digital assets in national reserves. The conference solidified SNB’s stance on reserving against cryptocurrency adoption for monetary stability. Bitcoin’s exclusion from Switzerland’s reserves could influence other central banks’ approaches to cryptocurrency. Swiss economic advocates and global market participants have reacted swiftly. Luzius Meisser, a Bitcoin advocate, criticized the decision, urging recognition of Bitcoin’s potential as a transformative asset. Governments and industries remain divided, balancing Bitcoin’s emerging value against its inherent volatility.
Did you know? In the past, central banks have expressed caution over cryptocurrencies for reserves; this continues a trend set by the European Central Bank’s similar cautious stance.
Coincu research indicates ongoing regulatory debates may reshape the perception of cryptocurrencies as reliable assets. Institutional recognition remains contentious amid price fluctuations, with historical patterns informing reserved strategies.
Bitcoin Price and Regulatory Debate Continue
Did you know? In the past, central banks have expressed caution over cryptocurrencies for reserves; this continues a trend set by the European Central Bank’s similar cautious stance.
Bitcoin (BTC) stands at $94,439.13, with a market cap of formatNumber(1875641705196.87), holding 63.91% dominance. As of May 6, 2025, its price decreased 0.26% in 24 hours, details CoinMarketCap. Over 30 days, BTC rose 13.68%, reflecting recent market rebounds affecting optimism.
Coincu research indicates ongoing regulatory debates may reshape the perception of cryptocurrencies as reliable assets. Institutional recognition remains contentious amid price fluctuations, with historical patterns informing reserved strategies.
Source: https://coincu.com/335924-swiss-bank-cryptocurrency-decision/