Swiss National Bank Rejects Bitcoin Reserve Plan Amid Referendum Push

His comments were a direct response to growing pressure from Swiss cryptocurrency advocates who are campaigning to amend the constitution and mandate Bitcoin alongside gold as a national reserve asset.

The Swiss National Bank (SNB) has no plans to add Bitcoin to the country’s currency reserves, the central bank’s chairman Martin Schlegel said on Friday at the SNB’s shareholder meeting in Bern.

His comments come as cryptocurrency advocates in Switzerland are pushing to amend the constitution and mandate Bitcoin alongside gold as a national reserve asset.

The SNB president explained that cryptocurrency does not currently meet the central bank’s strict standards for reserve assets.

“We are not investing in any cryptocurrencies at the moment,” Schlegel said, attributing this to two main concerns: limited market liquidity and excessive price volatility.

The SNB needs assets that can be traded at any time, he noted, while also stressing that the extreme fluctuations in crypto prices make them unsuitable for preserving long-term value.

Crypto advocates: Global risk & tariffs have increased interest in Bitcoin

Luzius Meisser, one of the main figures behind the ‘Bitcoin Initiative’ spoke directly to shareholders. He described Bitcoin as a ‘special asset’ uniquely positioned for a future where global trust in government debt continues to decline.

“It might not be worth much in scenarios that most of you consider normal,” Meisser said, addressing the SNB officials in the packed hall. “But in a multipolar world order with fading trust in government debt, it will be worth a lot.”

The initiative hopes to tap into Switzerland’s tradition of financial independence and innovation. If the campaign garners enough signatures and support, it could force a national vote—putting Switzerland at the forefront of a global debate on whether digital assets belong in sovereign treasuries.