Swiss National Bank Shrugs Off Bitcoin—Gold and Francs Still Rule the Vault

In a move that’ll surprise exactly zero crypto skeptics, Switzerland’s central bank just dismissed Bitcoin as a reserve asset—choosing instead to cling to its beloved gold bars and Swiss francs.

Central banks still allergic to volatility

The SNB’s latest policy statement reads like a boilerplate rejection of decentralized assets: no plans to diversify into ’speculative’ cryptocurrencies, thank you very much. Meanwhile, Bitcoin ETFs hoover up institutional billions.

Bonus jab

Clearly someone forgot to tell them about ’digital gold’—or maybe they noticed BTC’s 30% intraday swings aren’t exactly a reserve manager’s dream.

Meisser, who is backing a campaign to amend Switzerland’s constitution to allow the central bank to hold Bitcoin, insists that BTC’s resistance to inflation and deficit spending makes it an attractive long-term hedge. The campaign, launched last December, seeks to formally introduce Bitcoin into the country’s monetary policy conversation.

Nevertheless, Schlegel has remained consistent in his opposition. He emphasized once again that national reserves must be highly liquid to effectively support monetary policy operations. In his view, the relatively small size of the crypto market on the global stage keeps it firmly within the realm of niche assets — not something he believes is suitable for safeguarding Switzerland’s economic stability.