Martin Schlegel, the head of the Swiss National Bank, has rejected Bitcoin as a reserve asset, citing its volatility. Despite this, a new initiative has surfaced to amend the Swiss constitution to permit Bitcoin inclusion, requiring 100,000 signatures by June 30.
Although past efforts to include Bitcoin in reserves have failed, advocates see hope from recent pro-crypto developments in the U.S. Currently, the SNB’s reserves exceed 900 billion USD, predominantly held in traditional currencies and gold.
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