Swiss National Bank’s only purpose is to raise the value and strength of the Swiss Franc. Swiss Franc is the currency of Switzerland. dubbed France is likely to see a boost in its prospects as one of the world’s strongest currencies. Bitcoin is gaining in popularity around the world. Crypto stakeholders are pushing SNB into exploring BTC as a currency of reserve. SNB has other plans.
Thomas Jordan, the chairman of SNB’s, shared his concerns about Bitcoin at Friday’s bank annual meeting.
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Thomas Jordan, chairman of SNB, says that Bitcoin is not for Swiss Bank
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Thomas Jordan has been appointed as the chairman of Swiss National Bank. shared His unique view of Bitcoin. Jordan expressed his concerns about Bitcoin being added as a currency reserve at the annual general meeting of the central bank, highlighting the shortcomings that BTC has.
SNB Chief stressed that Bitcoin was not a liquid asset, and added that reserves of currency are meant to be liquids. Jordan raised the issue of the tokens’ sustainability, as well as mobility.
“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.” Jordan shared.
Swiss campaigners rally for Bitcoin Support
A number of Swiss campaigners echo the pro-Bitcoin position, pressuring SNB for a percentage of their currency reserves to be held in Bitcoin. Luiz Misser, chairman of Bitcoin Suisse and a strong supporter, explained how SNB was juggling its losses, investing in international bonds that were in decline, when they should have been investing in Bitcoin.
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Meisser stated that he believes it will strengthen the Swiss franc as well as the independence of Swiss National Bank, if they spend less money on losing government bonds.
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Source: watcher.guru