The President of the Swiss Central Bank talked about Bitcoin (BTC)! He answered the question "Will they buy BTC?"

The US sets an example for the whole world with its strategic Bitcoin (BTC) reserve move, while some countries continue to take a hard stance on BTC and cryptocurrencies.

One of them was Switzerland. The Swiss Central Bank closed the door on Bitcoin and cryptocurrency purchases.

Speaking to Bloomberg, Swiss National Bank (SNB) president Martin Schlegel stated that the bank has no plans to purchase Bitcoin or other cryptocurrencies.

Citing high volatility, instability, and regulatory concerns, Schlegel emphasized that the SNB's foreign exchange reserves should only support monetary policy.

Schlegel stated that the SNB's foreign exchange reserves serve only the purpose of easing monetary policy.

"We have no plans to buy Bitcoin or any other cryptocurrency. Cryptocurrencies do not meet the criteria of being useful for the monetary policies of countries, such as value preservation."

And as you know, there are significant fluctuations in the prices of cryptocurrencies, which does not provide certainty about their value.

Additionally, cryptocurrencies are fundamentally prone to errors due to being software.

The SNB is facing an initiative that forces it to accept Bitcoin and cryptocurrencies as part of its reserves, even though it has not agreed to do so. In Switzerland, if cryptocurrency advocates manage to collect 100,000 signatures by June 2026, the country will be required to regulate BTC and cryptocurrency purchases.