Swiss Central Bank Governor Once Again Rejects Calls to Increase Bitcoin Holdings, Says It "Does Not Meet High Standards for Reserve Currency"
Swiss Central Bank Governor Martin Schlegel said on Friday, "The market liquidity of cryptocurrencies can be questioned during times of crisis, and their high volatility is a significant risk for long-term value preservation. In short, it can be said that cryptocurrencies currently do not meet our high requirements for a reserve currency." He made this statement in response to the proposal from the advocacy organization Bitcoin Initiative, which argued that if 1% of the 2015 investment portfolio had been allocated to Bitcoin, the Swiss Central Bank's overall returns would have almost doubled, with only a slight increase in volatility.
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