The Swiss National Bank's president denies the idea of serving as a reserve for the Swiss National Bank

According to local media reports, the Swiss National Bank (SNB) Governor Martin Schlegel rejected the idea of using Bitcoin as a reserve for the Swiss Central Bank due to its lack of stability, liquidity and security. In an interview with Tamedia Group, Schlegel listed three main concerns surrounding cryptocurrencies. The first is the volatility of cryptocurrencies, which he believes makes them unsuitable for long-term value preservation.