The chairman of the Swiss National Bank (SNB) is reportedly unconvinced that holding Bitcoin (BTC) as a reserve currency is in the best interest of the institution. During the central bank’s annual general meeting, Thomas Jordan expressed concerns about the downsides of holding the top cryptocurrency, according to a report from Reuters.

“We have not yet made a decision to invest in Bitcoin, and there are good reasons for that. Currency reserves need to be liquid, sustainable, and easily tradable,” Jordan stated.

Despite this, cryptocurrency stakeholders have been advocating for the SNB to allocate a portion of its currency reserves to BTC. Luzius Meisser, chairman at Bitcoin Suisse, a crypto financial services provider, made a case for Bitcoin investment during the SNB’s annual general meeting.

“One of Switzerland’s interests is to have a secure and stable currency. I firmly believe that if we reduce our investments in government bonds that generate losses and start HODLing Bitcoin, it would strengthen the Swiss franc and the independence of the Swiss National Bank,” Meisser argued.

At the time of writing, Bitcoin is trading at $63,002 and has experienced a decline of over 2% in the last 24 hours, according to market data.

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Disclaimer: The opinions expressed in this article by The Daily Hodl are not investment advice. It is recommended that investors conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transfers and trades are done at your own risk, and you are responsible for any losses incurred. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it act as an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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