The Swiss National Bank (SNB) has rejected calls to include Bitcoin in its reserves, citing concerns over stability and security. During a shareholder meeting in Bern, SNB Chairman Martin Schlegel stated that cryptocurrencies do not meet the requirements for currency reserves. This rejection comes amidst increasing pressure from the local cryptocurrency industry, particularly from campaigner Luzius Meisser, who argued that holding Bitcoin would provide a hedge against the declining values of the dollar and euro. Schlegel has maintained a firm stance against making Bitcoin a reserve asset for Switzerland. Proposals are underway to change the Swiss constitution to mandate Bitcoin holdings in the SNB's reserves, requiring 100,000 signatures for a referendum. The proposal suggests amending a constitutional clause that currently mandates gold reserves to include Bitcoin. Advocates argue that a small percentage of Bitcoin in reserves could diversify assets and shield against inflation pressures from foreign currency holdings. Despite the ongoing campaign, Schlegel's resistance indicates a challenging path ahead for the crypto community's push for institutional adoption in Switzerland.

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