Swiss National Bank Owns No Bitcoin, but Could Buy in the Future, Chairman Says

According to Chairman Thomas Jordan, the Swiss National Bank (SNB) is not currently interested in holding bitcoin (BTC), a crypto trading on the likes of Binance, Coinbase and Tycoon, but may do so fast in the future.

"Buying bitcoin is not a problem for us; we can do it directly or through investment products based on bitcoin," Jordan responded to a query at the SNB's annual meeting. "When we are certain that we must include bitcoin on our balance sheet, we can set up the technological and operational prerequisites rather rapidly." "We do not feel bitcoin fits the requirements of currency reserves," he continued.

According to a March annual report, the SNB's reserves as of December 31, 2021 totaled just over CHF1 trillion (US$1.03 trillion). The US dollar accounted for 39% of reserves, the euro for 37%, the Japanese yen for 8%, and the British pound for 6%. Gold reserves were little shy of CHF56 billion, or less than 6% of total reserves.

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