The Swiss National Bank won’t follow Trump’s crypto push
The Swiss National Bank won’t buy Bitcoin and similar digital currencies, even after President Donald Trump made a push to establish a strategic U.S. reserve.
“We do not have plans to buy crypto assets,” central bank chief Martin Schlegel told Bloomberg Television in Zurich on Thursday, citing large volatility as well as a lack of safety and of a robust legal framework.
Schlegel went on to explain that the SNB’s foreign-exchange reserves exclusively serve the goal of facilitating monetary policy. Crypto doesn’t fulfill the criteria of being useful for this, he said, echoing earlier comments.
“For example, it’s the preservation of value,” he said. “And as you know, crypto currencies have large fluctuations in value, so…
