Swiss Central Bank Dismisses Bitcoin Reserve Proposal Amid Debate

Bitcoin supporters in Switzerland are pushing hard to rewrite the country’s monetary playbook. Their campaign aims to change the constitution and force the Swiss National Bank (SNB) to add Bitcoin to its currency reserves—right alongside gold.

The campaign began as a reaction to rising economic uncertainty, fueled by U.S. tariffs and shifting global power dynamics. Backers argue that Switzerland must adapt its financial strategy to include decentralized digital assets. Their belief: Bitcoin offers long-term protection against inflation and weakening trust in sovereign debt.

Luzius Meisser, a leader of the Bitcoin Initiative, told SNB shareholders that Bitcoin represents a “special asset.” He warned that as trust in government-issued bonds fades, Bitcoin’s value will rise. “In a world with less faith in debt,” Meisser said, “Bitcoin becomes insurance.”

SNB Chair Rejects Bitcoin Over Liquidity, Volatility

SNB Chairman Martin Schlegel quickly shot down the idea during the bank’s annual meeting in Bern. He said Bitcoin fails to meet the bank’s core reserve standards.

Schlegel pointed to two major issues: low liquidity and extreme price swings. The SNB needs assets it can buy and sell easily. It also prefers holdings that maintain value over time. Cryptocurrencies, in his view, offer neither.

“Crypto assets fluctuate too much,” Schlegel said. “We need stable and liquid reserves.”

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Push for Reform Faces Institutional Resistance

Despite rejection from the central bank, crypto advocates plan to keep pushing forward. Their goal is to secure enough support for a national vote.

If successful, Switzerland could become the first nation to legally mandate Bitcoin as part of its official currency reserves. The outcome may set a precedent for other countries reconsidering their reliance on traditional financial instruments.

Kosta Gushterov