Although US President Donald Trump announced the latest Tasheer Strategic Reserve that included Bitcoin, Ethereum, Ripple, Solana and Cardano, Central Banks in Switzerland and Australia rejected the idea of ​​integrating encryption into their official reserves.
On March 1, 2025, the President of the Swiss National Bank, Martin Sildel, rejected the proposal to obtain a portion of his bitcoin reserves, and the people’s initiative suggested.
According to local reports, Schlegel said that cryptocurrencies do not meet the basic characteristics that a good currency should enjoy.
break:
The Swiss National Bank rejects bitcoin
SNB President Martin Sheliegel says $ BTC Very volatile and lacks good currency characteristics.
They will regret this! pic.twitter.com/axunfmf8x
– Crypto Rover (Rovercrc) March 1, 2025
Meanwhile, the current government in Australia indicated that it has no plans to create a strategic encryption reserve. However, the country is about to choose a new government. The latest survey of YouGov appears to the right -right coalition, which is slightly progressing to the workers’ government in the center, which led to 51 % to 49 %.
Australia declares “There are no plans for the strategic encryption reserve” … Focus on the organization
The Australian government explained that, unlike the Trump administration, it has no plans to create a strategic encryption reserve. Instead, it gives priority to developing the organizational framework and … pic.twitter.com/ojSISOTX7
(Bonzil_theroot) March 5, 2025
Encryption fluctuations
Speaking to a media house, Tom Matthews, head of corporate affairs at Australian Crypto Exchando Swyftx, said that although the idea of ​​reserve is popular, it can be “complicated”. He added that if it is not properly managed, the reserve creates the possibility of the risk of focusing with some symbols.
“First, the cryptocurrency currencies are very volatile,” said SNB president, who does not lead to maintaining the value of SNB investments in the long run. “
Sildel He continued, “Secondly, our reserves must be very liquid so that they can be used quickly for monetary policy purposes if necessary. Third, cryptocurrencies offer security weaknesses. They are basically programs, and we all know that programs can contain other errors and weaknesses.”
Sildel also described encrypted currencies as a “specialized phenomenon”, noting that its market value is still relatively small compared to traditional financial systems.
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Switzerland continues to move forward with the Bitcoin Initiative
Although SNB refuses, advocates of cryptocurrencies in Switzerland continue to move forward with the Bitcoin Initiative.
This campaign was launched in December 2024, seeking to amend the Swiss constitution to request SNB to allocate part of its reserves to Bitcoin alongside gold.
Under the Swiss law, before the Initiative Committee is 18 months to collect 100,000 signatures for the proposal to be made for voting. It is still not certain whether the campaign will succeed.
It is worth noting, ISwitzerland, one of all nine people invest in encryption assets – a statistic that reflects the prevailing acceptance.
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Main meals
- While defenders of cryptocurrencies continue to pressure for the wider adoption, central banks remain cautious, citing concerns about fluctuations, liquidity and security.
- Although SNB refuses, advocates of cryptocurrencies in Switzerland continue to move forward with the Bitcoin Initiative.
After Switzerland and Australia are no longer interested in a strategic encryption reserve that first appeared on 99bitcoins.