The head of the Swiss National Bank has denied the idea of holding reserves as part of the SNB

According to local media reports, Swiss National Bank (SNB) Governor Martin Schlegel rejected the idea of Bitcoin as a SNB reserve, citing a lack of stability, liquidity and security. In an interview with Tamedia Group, Schlegel listed three main concerns surrounding cryptocurrencies. The first is the volatility of cryptocurrencies, which he believes makes them unsuitable for long-term preservation of value.