Dismissing Clear Market Data, Swiss National Bank Chairman Says Bitcoin Not Liquid Enough

Risk is managed and mitigated by means of a system of reference portfolios , guidelines and limits.

Furthermore, given that expected return is higher on shares than on bonds, this asset class helps to preserve the real value of the currency reserves.” -SNB’s 2020 annual report.

With the Swiss franc strengthening over the past two decades, SNB has engaged in the practice of printing francs to buy dollars , and to buy dollar-denominated assets, including a large number of U.S.

If the SNB was truly interested in mitigating risk through diversification, as well as investing with a “long-term time horizon,” it would start accumulating bitcoin, and most likely not disclose the action.

No one is better than their incentives, and the incentive of being an early adopter of bitcoin at a central bank and sovereign level is too strong.

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