As interest in digital assets grows around the world, the Swiss National Bank flatly turned down cryptocurrency as reserves, citing wild price swings, weak laws, and software bugs.
Martin Schlegel, vice president of the Swiss National Bank (SNB), made it clear Thursday in Zurich that the country’s central bank has no plans to add bitcoin or other cryptocurrencies to its reserves. His statement came as digital assets got more attention around the world, especially after the U.S.
Recently, President Donald Trump supported the idea of creating a strategic crypto reserve for the US. But even with some political leaders now supporting crypto, Schlegel again confirmed that the SNB still follows its old stand and does not want to hold digital currency.
Schlegel told Bloomberg TV that he is still worried about prices that change quickly, not enough safety, and a weak legal base.
He emphasized that because the SNB allocates its foreign-exchange reserves specifically for this purpose, digital currencies cannot strictly support monetary policy.
The central banker explained, “For example, it’s value preservation. Moreover, as you are aware, the value of cryptocurrencies varies greatly; thus, your assumption is not a given. He also raised technical questions, pointing out that cryptocurrencies “are basically software” and prone to bugs, so undermining their dependability.
Too Much Tech, Not Enough Trust
Schlegel underlined that the SNB’s monetary approach depends on instruments that support its policy objectives, even if there is growing global discussion on digital assets. “We do not have plans to buy crypto assets,” he added, noting that digital currencies don’t support the objectives of the Swiss central bank.
He also said that because cryptocurrencies are based on software, they can have huge price changes and are open to bugs and attacks in the code. These problems make them completely unreliable for keeping value over the long term in a national reserve setting.
America Turns Crypto Into Digital Gold
The SNB is still against it, but the US is moving in a different direction. President Trump has made a historic change by signing an executive order that creates a U.S. Strategic Bitcoin Reserve and a national digital asset stockpile.
These new facilities will repurpose confiscated cryptocurrencies into a “digital Fort Knox.” With Congress now pushing several bills meant to incorporate blockchain technologies into government systems, this action reflects a larger federal trend toward embracing crypto infrastructure. Several states are also leading similar efforts.
They are all proposing laws that would allow the states to invest money in bitcoin and other digital assets. These changes are very different from how the SNB has been acting, as they are still deeply skeptical about the role of cryptocurrency in central banking.
