Bearish Divergence Emerges as Gold Soars: Is This the Top? 
Ethereum Faces Triple Threat: Upgrade Delays, ETF Exodus, and Bearish Signals 
UK businesses face a big tax hike. So what does it mean for workers and the economy? 
Has Donald Trump been outfoxed by Putin and Zelensky? 
FxWirePro- Major Crypto levels and bias summary 
Will the US trade war push up the price of medicines in Australia? Will there be drug shortages? 
FxWirePro- BNBUSD Trade idea 
What’s the difference between baking powder and baking soda? It’s subtle, but significant 
The tobacco lobby claims vaping is displacing youth smoking – a close look at the evidence tells another story 
The Swiss National Bank (SNB) officially dismissed the prospect of considering Bitcoin as part of its reserve assets due to the asset's volatility, illiquidity, and security concerns. In the words of SNB President Martin Schlegel, the price volatility of Bitcoin makes the asset inappropriate for monetary policy tools because reserves of central banks must be stable and highly liquid so that they could be readily released when the need arises. In addition, he stressed the vulnerability of Bitcoin's software nature, which could expose it to software bugs and other software flaws, The Swiss National Bank (SNB) officially dismissed the prospect of considering Bitcoin as part of its reserve assets due to the asset's volatility, illiquidity, and security concerns. In the words of SNB President Martin Schlegel, the price volatility of Bitcoin makes the asset inappropriate for monetary policy tools because reserves of central banks must be stable and highly liquid so that they could be readily released when the need arises. In addition, he stressed the vulnerability of Bitcoin's software nature, which could expose it to software bugs and other software flaws, further undermining its stability as a reserve asset.
This action is in the midst of the growing controversies in Switzerland regarding cryptocurrencies, fueled by proposals like 2B4CH favoring the SNB to maintain Bitcoin and gold in its reserves. While the project has received backing from crypto enthusiasts, Schlegel dismissed Bitcoin as a "niche phenomenon" that would not challenge traditional financial networks or pose a threat to the Swiss franc. While Switzerland has been receptive to the acceptance of cryptocurrency by private banks and institutions, the SNB remains wary of investment in digital assets.
The rejection is part of broader issues facing cryptocurrencies in obtaining acceptance within the conventional financial institutions. While others are considering digital assets as reserves, the inherent volatility of Bitcoin prevents central banks from using it as a pillar financial instrument. The decision of the SNB demonstrates greater dedication towards stability and risk management over prospects in speculation, with a growing preference for classical reserve instruments like foreign exchange and gold undermining its stability as a reserve asset.
