Swiss National Bank says no to Bitcoin, says yes to possible future investment.

The Bank of Switzerland doesn’t currently own any Bitcoin now, or have any plans to add it to its national portfolio of investments, but would be open to adding the cryptocurrency in the future.

Buying Bitcoin is not a problem for us, we can do that either directly, or can buy investment products which are based on Bitcoin” said Swiss National Bank Chairman Thomas Jordan. 

“We can arrange the technical and operative conditions relatively quickly, when we are convinced we must have Bitcoin in our balance sheets” Jordan added at the central bank’s annual meeting on Friday. “But from the current perspective, we do not believe Bitcoin meets the requirements of currency reserves, that’s why we have until now decided not to have Bitcoin on our balance sheet” Jordan added.

As of December of 2021, the Swiss National Bank reserves are just over US$1.3 Trillion. The U.S. dollar accounts for around 39% of all Swiss reserves.