Swiss National Bank President Skeptical of Bitcoin as a Reserve Asset
According to U.Today, Thomas Jordan, president of the Swiss National Bank, has expressed skepticism about the idea of including Bitcoin in bank reserves. Jordan, who has served as the longest-serving head of a major central bank, said that Bitcoin is not without risk. He stressed that monetary reserves should be liquid and sustainable. Recently, Bitcoin activist Yves Bennaim launched a campaign to pass a constitutional amendment that would allow the Swiss National Bank to hold Bitcoin as a reserve asset. Bennaim's goal is to collect 100,000 signatures to facilitate a referendum. Although the referendum is expected to fail due to the conservative nature of the Swiss people, Bennaim, who calls himself a "toxic Bitcoin extremist," hopes to spark a wider discussion about the Swiss National Bank. In 2014, 78% of Swiss voters rejected a proposal by conservative politicians to force the central bank to increase its gold reserves. The Swiss National Bank currently holds a total of 1,040 tons of gold reserves, one of the largest holdings among major central banks. The bank also has foreign exchange assets and Swiss franc financial assets. In March, Jordan announced he would step down as president of the Swiss National Bank after 12 years in the job, marking a major change in the bank's leadership. Jordan took the job in 2012.
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