Swiss National Bank Chairman Expresses Skepticism Over Bitcoin As Reserve Asset

According to U.Today, Thomas Jordan, the chairman of the Swiss National Bank (SNB), has expressed skepticism over the idea of adding Bitcoin to the bank's reserves. Jordan, who has served as the longest-standing governor of a major central bank, stated that Bitcoin is not without risk. He emphasized that currency reserves should be liquid and sustainable. Recently, Bitcoin activist Yves Bennaim initiated a campaign to pass a constitutional amendment that would permit the SNB to hold Bitcoin as a reserve asset. Bennaim's goal is to gather 100,000 signatures to prompt a referendum. Despite expecting the referendum vote to fail due to the conservative nature of the Swiss populace, Bennaim, a self-proclaimed 'toxic Bitcoin maximalist', hopes to spark a wider discussion about the SNB. In 2014, 78% of Swiss voters rejected a proposal by conservative politicians to force the central bank to increase its gold reserves. The SNB currently holds total gold reserves of 1,040 tons, positioning it as one of the largest holders of the precious metal among major central banks. The bank also possesses foreign currency assets and financial assets in Swiss francs. In March, Jordan announced his intention to step down from his role after a 12-year tenure, marking a significant change in the bank's leadership. Jordan assumed the position of chairman of the Swiss National Bank in 2012.