Despite the recent announcement by American president Donald Trump of a strategic cryptography reserve involving Bitcoin, Ethereum, Ripple, Solana and Cardano, central banks in Switzerland and Australia rejected the idea of incorporating the crypto into their official reserves.
On March 1, 2025, the president of the Swiss National Bank (SNB), Martin Schlegel, rejected the proposal to hold part of his Bitcoin reserves, as proposed by a popular initiative.
According to local reports, Schlegel said that cryptocurrencies do not fill the essential characteristics that a good currency should have.
RUP:
The Swiss National Bank rejects Bitcoin
SNB president Martin Schlegel says $ BTC is too volatile and does not have the qualities of a good currency.
They will regret that! pic.twitter.com/axunifmf8x
– Crypto Rover (@rovercrc) March 1, 2025
RUP: 
Meanwhile, the current government of Australia indicated that it did not intend to establish a cryptographic strategic reserve. However, the country is about to choose a new government. The latest Yougov survey shows that the central right coalition holding a slight advance on the Labor government in the center-left, which led 51% to 49%.
Australia declares “no plans for the strategic crypto reserve” … Focus on the regulations
The Australian government has said that, unlike the Trump administration, it does not intend to establish a strategic cryptography reserve. Instead, he favors the development of the regulatory framework and … pic.twitter.com/ojsisotx7
– Substance (@Bonzil_Theroot) March 5, 2025
Volatility of cryptography: a major reason not to include it in the reserves
Addressing a media house, Tom Matthews, Australian Crypto Exchange Swyftx Australian Australian, said that the idea of a reserve is popular, it can also be “heavy with complexity”. He added that if it was not managed correctly, the reserve creates the risk of concentration potential with certain tokens.
“First, cryptocurrencies are extremely volatile,” said SNB president, “which is not conducive to the maintenance of the long-term BNB investments.”
Schlegel Continuation: “Second, our reserves must be very liquid so that they can be used quickly for monetary policy if necessary. Third, cryptocurrencies display safety weaknesses. It is essentially software, and we all know that software can have bugs and other weak points. »»
Schlegel has also described cryptocurrencies as a “niche phenomenon”, noting that their market capitalization remains relatively low compared to traditional financial systems.
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Switzerland continues to move forward with “Bitcoin Initiative”
Despite the rejection of the SNB, the defenders of cryptocurrencies in Switzerland continue to move forward with “the Bitcoin initiative”.
Launched in December 2024, this campaign aims to modify the Constitution of Switzerland to demand that the SNB would go part of its Bitcoin reserves alongside gold.
Under the Swiss law, the initiative committee has 18 months to receive 100,000 signatures for the proposal to vote. It remains uncertain if the campaign will succeed.
In particular, IN Swiss, one in nine would invest in cryptographic assets – a statistic which reflects an increasing acceptance of the dominant current.
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Main to remember
- While the defenders of cryptocurrencies continue to put pressure for a wider adoption, central banks remain cautious, citing concerns about volatility, liquidity and security.
- Despite the rejection of the SNB, the defenders of cryptocurrencies in Switzerland continue to move forward with “the Bitcoin initiative”.
The Swiss post and Australia are no longer interested in a strategic cryptography reserve appeared first on 99Bitcoins.
