Switzerland rejects Bitcoin as a reserve currency
Martin Schlegel, the head of Switzerland’s central bank, has rejected Bitcoin as a reserve currency. He believes Bitcoin is illiquid and highly volatile. In an interview, Schlegel stated that cryptocurrencies do not meet the essential requirements for a healthy currency. He became the president of the Swiss National Bank (SNB) in October 2024. Schlegel pointed out that Bitcoin and other crypto are too unstable to be part of a nation’s