The President of the Swiss Central Bank made a statement about Bitcoin (BTC) due to high demand!

The President of the Swiss National Bank (SNB), Martin Schlegel, firmly rejected the proposals for the central bank to hold Bitcoin in its reserves, stating that cryptocurrencies do not meet the institution's standards for reserve assets.

Speaking at the annual shareholders' meeting of the SNB in Bern, Schlegel addressed the growing pressure from cryptocurrency advocates who argue that the central bank should diversify its reserves in light of increasing global economic uncertainty. The move has gained momentum since U.S. President Donald Trump announced new tariffs that critics say could destabilize international markets.

The initiators of the movement aim to make it mandatory for the SNB to hold Bitcoin as well as gold as part of its official reserves by launching a referendum initiative to amend the Swiss Constitution. The initiative is being carried out by the Bitcoin Initiative group, founded by one of the leading figures in the Swiss crypto community, Luzius Meisser.

Despite this momentum, Schlegel maintained his determination. "Cryptocurrencies are currently not meeting the necessary conditions for our foreign exchange reserves," he said. He emphasized the need for the central bank to reliably buy and sell assets, expressing concerns about market liquidity. Schlegel also pointed out the extreme volatility of cryptocurrencies, describing value fluctuations as "very, very high" and raised doubts about their role as stable reserve assets.

Speaking to shareholders at the beginning of the meeting, Meisser argued that Bitcoin offers strategic value in the changing geopolitical environment. "I must admit that it may not be very valuable in scenarios that most of you consider normal," he said, adding: "However, Bitcoin will be very valuable in the special scenario of a multipolar world order where trust in government debt is declining."