Swiss Nationwide Financial institution (SNB) President Martin Schlegel has dismissed the thought of including Bitcoin to Switzerland’s reserve belongings, citing issues over stability, liquidity, and safety dangers.
Schlegel’s stance contradicts a proposal from Swiss Bitcoin nonprofit suppose tank 2B4CH, which goals to constitutionally mandate the SNB to carry Bitcoin on its stability sheet.
The initiative, presently in its early phases, has gained traction amongst crypto advocates pushing for better institutional adoption.
SNB President Schlegel Cites Bitcoin Volatility as Barrier to Reserve Adoption
In a March 1 interview with Swiss media outlet Tamedia, Schlegel argued that Bitcoin’s volatility makes it an unsuitable reserve asset for the nation’s central financial institution.
“Our reserves should be extremely liquid to allow them to be used rapidly for financial coverage functions if wanted,” he mentioned, emphasizing that Bitcoin’s worth swings and market fluctuations are incompatible with the SNB’s monetary technique.
Past volatility, Schlegel raised issues over technical vulnerabilities related to cryptocurrencies, stating that since Bitcoin is software-based, it stays vulnerable to bugs and safety flaws.
“Everyone knows that software program can have bugs and different weak factors,” he famous, reinforcing the argument that Bitcoin lacks the reliability wanted for central financial institution reserves.
Regardless of acknowledging the crypto market’s close to $3 trillion valuation, Schlegel described Bitcoin as a “area of interest phenomenon” in comparison with the broader monetary system.
He additionally dismissed the concept Bitcoin might problem the Swiss franc, stating, “We’re not afraid of competitors from cryptocurrencies.”
The 2B4CH initiative, which was formally set in movement by the Swiss Federal Chancellery on Dec. 31, requires 100,000 signatures to qualify for a public referendum.
The group has till June 30, 2026, to assemble sufficient assist—which means about 1.11% of Switzerland’s 8.97 million residents should signal the petition.
SNB chief speaks out in opposition to Bitcoin as a foreign money reserve

The top of the Swiss Nationwide Financial institution, Martin Schlegel, has spoken out in opposition to the acquisition of Bitcoin demanded by an initiative. For the Nationwide Financial institution, cryptocurrencies have a number of issues as an asset class. pic.twitter.com/eNjT8HW09w— Bitcoin Initiative
(@initiativeBTC) March 1, 2025
Bitcoin Reserves in Different International locations
Whereas Switzerland stays cautious, different nations are actively exploring Bitcoin reserves.
El Salvador has continued accumulating Bitcoin since September 2021, whereas the U.S., Czech Republic, and Hong Kong are contemplating comparable insurance policies. Conversely, Poland just lately dominated out including Bitcoin to its reserves.
Regardless of Schlegel’s resistance, Switzerland stays a hub for Bitcoin adoption, significantly in Lugano, which hosts the annual “Plan ₿” convention.
It’s value noting that a number of U.S. states, together with Illinois, Kentucky, Maryland, New Hampshire, New Mexico, North Dakota, Ohio, Pennsylvania, South Dakota, and Texas, have additionally launched payments that might allow them to carry Bitcoin and different cryptos as reserve belongings.
Extra just lately, lawmakers in Ohio launched Home Invoice 116, aiming to forestall the state from imposing extra taxes on digital belongings when used for funds.
In the meantime, Bitcoin is presently buying and selling at round $86,000, largely flat over the previous day.
In line with analysts at Time To Commerce, ought to Bitcoin break above $86,500 with sturdy quantity, merchants may see a swift rally concentrating on $88,000, a psychologically notable spherical quantity and a degree of curiosity to short-term speculators.
However, if the market encounters elevated promoting strain—particularly with decrease buying and selling quantity—Bitcoin might revisit the $84,000 mark.
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