Alex Dovbnya
Thomas Jordan, long-standing chairman of Swiss National Bank, has warned about risks associated with Bitcoin
Thomas Jordan, the long-standing chairman of the Swiss National Bank, recently opined that Bitcoin, the largest cryptocurrency by market capitalization, “is not something without risk.”
The longest-serving governor of a major central bank is skeptical about recent calls to add Bitcoin to the list of its reserves, Reuters reports.
Jordan has noted that currency reserves are supposed to be liquid and sustainable.
Recently, Bitcoin activist Yves Bennaim has started an initiative to pass a constitutional amendment that would allow the SNB to hold Bitcoin as a reserve asset. The activist aims to collect 100,000 signatures in order to trigger a referendum.
He recently told MarketWatch that he expects a referendum vote to fail given how conservative the Swiss people are. However, the self-described “toxic Bitcoin maximalist” wanted to start a broader discussion about the SNB, regurgitating the typical libertarian propaganda.
It is worth noting that 78% of Swiss voters rejected an initiative by conservative politicians to compel the central bank to expand its gold reserves during a referendum that was held in 2014.
The SNB reportedly boasts total gold reserves of 1,040 tons, which makes it one of the largest holders of the yellow metal among major central banks. It also holds foreign currency assets and financial assets in Swiss francs.
In March, Jordan said that he was going to step down from his role after 12 years, in a major shakeup. He became the chairman of the Swiss National Bank back in 2012.
