瑞士國家銀行拒絕了持有比特幣儲備，理由是對加密貨幣市場流動性和波動性的擔憂。

“對於加密貨幣而言，市場流動性有時似乎還可以，尤其是在自然受到質疑的危機期間”

The Swiss National Bank (SNB) has no plans to hold bitcoin (BTC) reserves despite an initiative urging the institution to consider the cryptocurrency, the bank’s president said Friday.

該銀行總統週五表示，瑞士國家銀行（SNB）沒有計劃持有比特幣（BTC）儲備金，儘管一項倡議敦促該機構考慮加密貨幣。

At the bank’s General Assembly meeting, President Martin Schlegel said that while bitcoin is recognized for its market illiquidity, especially during crises, and high volatility, the crypto does not fulfill the high requirements for currency reserves.

在銀行大會會議上，馬丁·施萊格爾（Martin Schlegel）總統說，儘管比特幣因其市場不足而受到認可，尤其是在危機和高波動性期間，但加密貨幣並不能滿足對貨幣儲備的高要求。

His comments come after the Bitcoin Initiative, a bitcoin advocacy group, urged the SNB to add bitcoin to Switzerland’s treasury. The initiative’s research demonstrates that adding bitcoin would complement the Swiss National Bank's overall portfolio and yield substantial return with minimal volatility.

他的評論是在比特幣倡導組織的比特幣倡議之後敦促SNB向瑞士財政部增加比特幣的。該計劃的研究表明，添加比特幣將補充瑞士國家銀行的整體投資組合，並以最小的波動性獲得可觀的回報。

Without bitcoin, the Swiss National Bank's investments grew by about 10% since 2015. A 1% bitcoin allocation to the central bank's portfolio would have nearly doubled returns over the same period, according to a Bitcoin Initiative portfolio simulation. Annualized volatility would have increased only slightly.

自2015年以來，沒有比特幣，瑞士國家銀行的投資增長了約10％。根據比特幣倡議投資組合模擬，同期比特幣分配了1％的比特幣在同一時期的回報率幾乎翻了一番。年度波動只會略有增加。

The Bitcoin Initiative emphasized that bitcoin's volatility should not be evaluated in isolation, but in terms of its influence on the overall dynamics and performance of the investment portfolio.

比特幣倡議強調，比特幣的波動性不應孤立地評估，而應根據其對投資組合的整體動態和性能的影響。

“[Bitcoin] price reached new highs, it showed resilience under market stress, and it continues to be highly liquid with trading volumes in the double digit billions, every day and night, even on bank holidays,” said Luzius Meisser, a member of the Bitcoin Initiative and board member of Bitcoin Suisse.

“比特幣的價格達到了新高，它在市場壓力下表現出彈性，並且在每天和黑夜，即使在銀行假日期間，它仍然具有高度流動性，並在數十億美元的兩位數中進行交易，”比特幣Suisse的比特幣董事會成員盧祖斯·米瑟（Luzius Meisser）說。

“The Bitcoin network remains one of the most reliable and secure IT systems ever created. And most remarkably, the United States has started a strategic bitcoin stockpile.”

“比特幣網絡仍然是有史以來最可靠，最安全的IT系統之一。最引人注目的是，美國已經開始了戰略性的比特幣庫存。”

In an emailed statement to CoinDesk, the Bitcoin Initiative suggested that the Swiss National Bank's aversion to bitcoin might be political, as it could be perceived as "an expression of distrust towards other currencies" and harm delicate relations between Switzerland and the European Union.

在給科德斯克的一封電子郵件聲明中，比特幣倡議表明，瑞士國家銀行對比特幣的厭惡可能是政治性的，因為它可能被認為是“對其他貨幣不信任的表達”，並損害了瑞士與歐盟之間的微妙關係。

European Central Bank President Christine LaGarde has consistently criticized bitcoin, calling it "worth nothing" and a "highly speculative asset" linked to money laundering. In January, Lagarde said "I'm confident" that "bitcoins will not enter the reserves of any of the central banks of the General Council" of the ECB.

歐洲中央銀行總裁克里斯汀·拉加德（Christine Lagarde）一直批評比特幣，稱其為“無價”，而“高度投機資產”與洗錢有關。 1月，拉加德說，“我有信心”“比特幣將不會進入歐洲央行總理事會任何中央銀行的儲備”。

That was in response to comments made by Czech National Bank Governor Ales Michl that his institution was evaluating adding bitcoin to its reserves. LaGarde argued that bitcoin fails to meet the ECB's criteria for liquidity, security, and safety from criminal associations.

這是對捷克國家銀行州長艾爾斯·米歇爾（Ales Michl）的評論的回應，他的機構正在評估在其儲備中增加比特幣。拉加德（Lagarde）辯稱，比特幣無法滿足歐洲央行的流動性，安全性和刑事協會安全標準。

In February, Poland's central bank ruled out "keeping reserves in bitcoins under any circumstances" and the Romanian central bank warned banks not to issue loans to crypto companies.

2月，波蘭中央銀行排除了“在任何情況下保留比特幣的儲備”，羅馬尼亞中央銀行警告銀行不要向加密貨幣公司貸款。

Federal Reserve chair Jerome Powell said in December 2024 that the U.S. central bank was "not allowed to own bitcoin" per the Federal Reserve Act and it's not looking to change the law.

美聯儲主席杰羅姆·鮑威爾（Jerome Powell）在2024年12月說，根據《美聯儲法》，美國中央銀行“不允許擁有比特幣”，這並不是要改變法律。

The Swiss National Bank has indirect bitcoin exposure through stocks that own corporate bitcoin treasuries, including 520,000 shares of Strategy, 8.12 million shares of Tesla, 580,000 shares of MARA Holdings, and 500,000 shares of CleanSpark, as of the end of 2024 according to Fintel data.

瑞士國家銀行通過擁有企業比特幣國庫的股票間接敞口，包括520,000股戰略，812萬股特斯拉股，580,000股Mara Holdings和500,000股CleanSpark股票，截至2024年底，CleanSpark的500,000股。

Schlegel rejected citizen calls to add bitcoin reserves to the Swiss central bank's coffers as recently as last month. When it comes to technological advancements, Schlegel noted Thursday that the SNB is running a pilot project using central bank digital currencies to facilitate payments between financial institutions.

施萊格爾（Schlegel）拒絕了公民呼籲在上個月的瑞士中央銀行的庫存中增加比特幣儲備金。在技​​術進步方面，Schlegel週四指出，SNB正在使用中央銀行數字貨幣進行試點項目，以促進金融機構之間的付款。

By contrast, U.S. President Donald Trump signed an executive order this year that establishes a strategic bitcoin reserve and crypto stockpile, along with a Crypto Council that will evaluate budget neutral ways to supplement U.S. digital reserves. The order further prohibits government agencies from creating or promoting a central bank digital currency in the United States out of privacy concerns for citizens.

相比之下，美國總統唐納德·特朗普（Donald Trump）今年簽署了一項行政命令，該命令建立了戰略性的比特幣儲備和加密貨幣庫存，以及一個加密委員會，該委員會將評估預算中立的方式來補充美國數字儲備。該命令進一步禁止政府機構出於對公民的隱私問題而在美國創建或促進中央銀行數字貨幣。