SNB governor says ‘no’ to holding crypto in reserves
Schlegel says asset class is “niche phenomenon”
The president of the Swiss National Bank (SNB) has said it is unlikely to hold bitcoin among its reserves.
Martin Schlegel told the Tamedia newspaper group on March 1 that cryptocurrencies “do not fulfil the essential characteristics” of a good currency.
He used many of the same arguments as his counterparts elsewhere in Europe: that cryptocurrencies are illiquid, extremely volatile and have security weaknesses.
European Central Bank president Christine Lagarde made similar remarks on January 30
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