Switzerland’s Stance on Bitcoin and Cryptocurrencies

While the USA has set an example with its strategic Bitcoin (BTC) reserve, some countries, like Switzerland, remain wary of cryptocurrencies.

The Swiss National Bank (SNB) has explicitly closed the door to Bitcoin and other cryptocurrencies. In an interview with Bloomberg, SNB head Martin Schlegel stated that the bank has no plans to purchase Bitcoin.

Schlegel cited concerns over high volatility, instability, and regulatory issues, asserting that the SNB’s foreign exchange reserves are meant solely to support monetary policy. He emphasized:

> “We have no plans to buy Bitcoin or any other cryptocurrency. Cryptocurrencies do not meet the criteria of being useful for the monetary policies of countries and preserving value. There are big fluctuations in the prices of cryptocurrencies, which does not give certainty about its value. Additionally, cryptocurrencies are fundamentally software and therefore prone to errors.”

The SNB currently faces an initiative that could compel it to include Bitcoin and cryptocurrencies in its reserves, provided crypto advocates collect 100,000 signatures by June 2026. Additionally, this would require Switzerland to regulate BTC and cryptocurrency purchases.

*This is not investment advice.