Latest news with #LuziusMeisser
Business Mayor
26-04-2025
- Business
- Business Mayor
Crypto advocates urge the Swiss National Bank to diversify its reserves with Bitcoin
Image by KI Advertisment Luzius Meisser, founder of Bitcoin Suisse and a prominent figure in the Swiss cryptocurrency sector, has called on the Swiss National Bank (SNB) to diversify its reserves by investing a portion in Bitcoin. In a speech to the SNB's annual general meeting in Bern on Friday, Meisser argued that holding Bitcoin could protect the central… Dive into a world of exclusive Bitcoin insights and analyses, reserved only for Premium Members. Gain unlimited access to all in-depth articles and exclusive content. Check our packages Best seller 149 $ one time Stay ahead, not behind. Instant access to all our crypto insights – no more FOMO! 9.99 $ Eliminate FOMO, maximize gains. Instant access to all crypto insights. 79 $ No more FOMO, just profit. Get instant access to all our crypto insights. – Bitcoin News source since June 2011 – Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest. Everything on this website can be seen as Advertisment and most comes from Press Releases, is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites. Advertise with us : Advertise For the latest cryptocurrency news, join our Telegram! READ SOURCE
Business Mayor
24-04-2025
- Business
- Business Mayor
Swiss crypto advocates urge central bank to add Bitcoin to national reserves
A coalition of crypto advocates in Switzerland is campaigning for the Swiss National Bank (SNB) to diversify its foreign reserves by acquiring Bitcoin (BTC), citing concerns about overreliance on traditional currencies and political exposure. Reuters reported that the campaign was launched in December as a constitutional referendum initiative and aims to legally require the SNB to hold Bitcoin alongside gold as part of its foreign asset portfolio. Proponents argue that Switzerland should adjust its reserve strategy to reflect a global transition toward multipolarity and reduced dependence on the US dollar and euro. Luzius Meisser, a board member of Bitcoin Suisse and a central figure in the initiative, said Bitcoin's monetary policy offers an inflation-resistant alternative to fiat currencies. According to Meisser: 'Politicians eventually give in to the temptation of printing money to fund their plans, but Bitcoin is a currency that cannot be inflated through deficit spending.' Meisser will speak at the SNB's annual general meeting in Bern this week to present the initiative's rationale directly to stakeholders. The referendum process requires 100,000 verified signatures to proceed to a national vote. It would be the first initiative globally to mandate Bitcoin holdings by a central bank through constitutional reform. The move comes amid sovereign wealth funds accumulating Bitcoin in April , as John D'Agostino, Coinbase's head of institutional sales, reported. Switzerland's crypto adoption Supporters of the referendum argue that allocating a modest portion of the SNB's nearly $1 trillion Swiss franc reserve portfolio into Bitcoin, specifically 1% to 2%, would protect against monetary debasement without exposing the bank to outsized volatility. Meisser and others argue that SNB's current foreign currency holdings, consisting of 75% of US dollars and euros, expose Switzerland to foreign political dynamics and devaluation risks driven by expansionary fiscal policies abroad. They also argue such a move would align with Switzerland's broader positioning as a hub for blockchain technology. Switzerland hosts 'Crypto Valley' in Zug, a zone dedicated to crypto industries. Moreover, the country ranked 55th out of 151 countries in the crypto index provided by Chainalysis' latest 'Geography of Crypto Report.' Yves Bennaim, another proponent of the initiative and a member of the Bitcoin Initiative group, countered concerns over security and liquidity. He described Bitcoin's underlying technology as among the most secure and resilient digital systems ever created, supported by a $2 trillion market capitalization and daily trading volumes in the billions. Bennaim added: 'The global Bitcoin market is the most liquid and established among digital assets. We are not saying go all in with Bitcoin, but a small allocation can hedge against monetary and geopolitical risks.' SNB voices caution amid campaign momentum Despite the campaign's momentum, the Swiss National Bank has remained skeptical toward crypto. In March, SNB Chairman Martin Schlegel reiterated the institution's reservations, citing Bitcoin's high volatility, limited liquidity in crisis scenarios, and technical vulnerabilities as factors that currently preclude its inclusion in official reserves. He stated: 'Cryptocurrencies are essentially software. And we all know that software can often have bugs and other vulnerabilities.' Schlegel kept his reservations even after Switzerland's Federal Chancellery approved submitting a constitutional amendment proposal in December requiring the SNB to hold part of its reserves in Bitcoin. Mentioned in this article
