Thomas Jordan, chairman of the Swiss National Bank (SNB), has expressed skepticism about holding Bitcoin as a reserve currency.
Concerns over Liquidity and Stability
Jordan explained that reserve currencies should be highly liquid and stable, allowing for easy buying and selling. He believes Bitcoin may not meet these criteria due to its volatility and limited liquidity.
Arguments for Bitcoin Investment
Despite Jordan’s concerns, some crypto enthusiasts, such as Luzius Meisser of Bitcoin Suisse, argue that Bitcoin could strengthen the Swiss franc and increase the SNB’s independence. They suggest reducing investments in government bonds and allocating a portion to Bitcoin.
Bitcoin’s Current Market Value
At the time of writing, Bitcoin is trading at $63,002, down over 2% in the past 24 hours.
