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The Chairman of the Swiss National Bank has Stated that the Bank does not Presently own Bitcoin, but could buy it in the Future - Poxolo.com

The Chairman of the Swiss National Bank has Stated that the Bank does not Presently own Bitcoin, but could buy it in the Future

Thomas Jordan added that bitcoin does not presently fulfill standards for currency reserves, yet there is no technical barrier to purchases.

by Aapo Karjalainen
3 years ago

The Swiss National Bank (SNB) Chairman Thomas Jordan has stated that the bank doesn’t own anything in Bitcoin (BTC) as of now. But it is quite possible that it will move in this direction in the near future.

While answering the question at the SNB’s annual meeting, Thomas Jordan added that purchasing bitcoin is not at all a problem for them.

He said they can buy it either directly or indirectly by buying investment products based on bitcoin.

“When we believe that bitcoin must be in our balance sheet, we can set up the technical and operational parameters swiftly.” “We do not believe bitcoin satisfies the criteria for currency reserves,” he said.

The Swiss National Bank‘s reserves as of December 31, 2021, were just over $1 trillion, according to a yearly report released in March.

The dollar accounts for 39% of reserves, the euro 37%, the yen 8%, and the pound 6% in Japan. Gold reserves were less than 6% of the CHF56 billion in Swiss francs.

Categories: Crypto