The Swiss National Bank (SNB) has dismissed the idea of adding Bitcoin to its reserves. According to SNB President Martin Schlegel, the central bank has no inclination to hold the cryptocurrency due to its excessive volatility and risk.
Concerns Over Price Volatility
Schlegel pointed to Bitcoin’s erratic price swings as a key reason for the rejection of the proposal. He noted that the cryptocurrency does not meet the SNB’s criteria for stable and liquid assets that are suitable for monetary policy. Given that cryptocurrencies can suffer sudden declines, they are deemed inappropriate for national reserve use, he added.
In recent years, Bitcoin has seen dramatic price shifts, rising to unprecedented highs only to quickly drop again. While some investors view this as a lucrative opportunity, central banks generally avoid investing in assets plagued by such unpredictability.
Security Risks Contribute to Doubts
Security is another major concern. Bitcoin’s software-based nature makes it vulnerable to bugs and hacking attempts. Schlegel underscored that these risks make it unsuitable for a central bank, which must prioritize the security of its asset holdings.
SNB chief speaks out against Bitcoin as a currency reserve

The head of the Swiss National Bank, Martin Schlegel, has spoken out against the purchase of Bitcoin demanded by an initiative. For the National Bank, cryptocurrencies have several problems as an asset class. pic.twitter.com/eNjT8HW09w— Bitcoin Initiative 🗳️🇨🇭 (@initiativeBTC) March 1, 2025
Throughout the years, the crypto sector has been plagued by numerous news stories involving hacks and scams. Despite the coin’s decentralized essence, cybercriminals have targeted trading platforms and wallets, raising concerns over security and storage. Recently, the crypto exchange Bybit fell victim to a hack, losing $1.5 billion, which experts have categorized as the largest hack to date.
BTCUSD trading at $85,070 on the daily chart: TradingView.com
Swiss Nonprofit Advocates for a Bitcoin Reserve
Despite the SNB’s position, some in Switzerland are campaigning for change. A nonprofit think tank, 2B4CH, is working towards the inclusion of Bitcoin in the country’s reserves. The group has proposed a constitutional amendment that would require the SNB to hold cryptocurrencies along with gold and other assets.
To submit the proposal for a public referendum, 2B4CH needs to gather 100,000 signatures by June 30, 2026. If successful, it will give Swiss citizens the chance to vote on whether Bitcoin should be integrated into the nation’s reserves.
Global Interest in the Debate
Switzerland isn’t the only country exploring Bitcoin as a reserve asset. Since 2021, El Salvador has been increasing its national Bitcoin reserves, while the Czech Republic and Hong Kong have also considered similar measures. In contrast, Poland has explicitly stated that it does not plan to hold Bitcoin as a national reserve, arguing that it fails to provide the necessary stability.
Currently, the SNB maintains its position. While Bitcoin supporters remain steadfast in their belief in its advantages, Switzerland’s central bank continues to prioritize traditional assets. Although discussions are ongoing, the inclusion of Bitcoin in the nation’s reserves is not on the immediate horizon.
Featured image from Gemini Imagen, chart from TradingView
