Editor's PiCK
Swiss National Bank "No plans to purchase Bitcoin... Lack of security"
JOON HYOUNG LEE
Summary
- President Schlegel stated that the Swiss National Bank has no plans to purchase Bitcoin or virtual assets.
- President Schlegel pointed out the volatility and security issues of virtual assets, explaining that they do not align with monetary policy.
- President Schlegel questioned the liquidity of Bitcoin, warning that virtual assets are essentially software and prone to bugs.
Martin Schlegel, President of the Swiss National Bank (SNB), drew a line regarding the strategic reserve of virtual assets such as Bitcoin (BTC), stating "there are no plans." In an interview with Bloomberg on the 20th, President Schlegel said, "(Virtual assets) are highly volatile and lack security." He further stated, "The foreign exchange reserves of the Swiss National Bank are used solely for the purpose of facilitating monetary policy," and "virtual assets do not meet these criteria."
President Schlegel also questioned the liquidity of Bitcoin. Additionally, he said, "(Virtual assets) are essentially software," and "they are prone to bugs."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
