Switzerland’s Central Bank Dismisses Bitcoin’s Role in National Reserves

Switzerland’s central bank remains firmly opposed to adding Bitcoin to its reserves, despite growing pressure from crypto advocates.

Speaking at the Swiss National Bank’s shareholder meeting on Friday, Chairman Martin Schlegel reiterated his skepticism, citing Bitcoin’s extreme price volatility and limited liquidity as key reasons it doesn’t meet the bank’s requirements for a reserve asset.

Schlegel’s comments came as Bitcoin supporters, including Bitcoin Suisse board member Luzius Meisser, argued for a different view. Meisser warned that while Bitcoin might seem unnecessary during periods of stability, it could prove extremely valuable in a world where trust in government debt diminishes.

He pointed to the potential erosion of confidence in both the euro and the dollar as reasons Switzerland should consider diversifying its reserves.

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Meisser, who is backing a campaign to amend Switzerland’s constitution to allow the central bank to hold Bitcoin, insists that BTC’s resistance to inflation and deficit spending makes it an attractive long-term hedge. The campaign, launched last December, seeks to formally introduce Bitcoin into the country’s monetary policy conversation.

Nevertheless, Schlegel has remained consistent in his opposition. He emphasized once again that national reserves must be highly liquid to effectively support monetary policy operations. In his view, the relatively small size of the crypto market on the global stage keeps it firmly within the realm of niche assets — not something he believes is suitable for safeguarding Switzerland’s economic stability.

Alexander Stefanov