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Swiss National Bank Head Rejects Bitcoin
The head of Switzerland’s central bank has rejected the idea of adding Bitcoin to their reserves, citing concerns over the cryptocurrency’s volatility and lack of regulatory oversight.
In a shocking move, the Swiss National Bank (SNB) has officially ruled out the possibility of including Bitcoin in its asset portfolio. This decision comes as a major blow to the growing number of Bitcoin advocates who have been calling for central banks to incorporate the digital currency into their reserves.
According to reports, the SNB head stated that they cannot justify investing in an asset that is notorious for its extreme price fluctuations and lack of regulatory framework. The bank’s decision sends a clear message that even Switzerland, known for its openness to fintech innovations, has serious reservations about Bitcoin as a viable investment opportunity.
The news follows a recent trend where major economies have shied away from embracing Bitcoin, despite growing public interest in the digital asset. Despite this setback, there are still many who believe that Bitcoin’s potential value and adoption rate will ultimately vindicate their stance.
In related news, the European Central Bank (ECB) has also dismissed calls to include Bitcoin in its portfolio, citing concerns over regulatory uncertainty and market volatility. It remains to be seen whether other major central banks will follow suit or maintain their neutrality on the matter.
Sources:
* Swiss National Bank
* European Central Bank
Source: https://u.today/swiss-national-bank-head-rejects-bitcoin
