According to Reuters, the Swiss National Bank (SNB) is not currently interested in holding bitcoin (BTC) but may do so in the near future. Chairman, Thomas Jordan stated this during the central bank’s annual general meeting on April 29th, 2022.
“Buying bitcoin is not a problem for us. We can do that either directly or can buy investment products which are based on bitcoin,” Jordan responded to a question at the SNB’s annual meeting. “We can arrange the technical and operative conditions relatively quickly when we are convinced we must have bitcoin on our balance sheet.” He further added, “We do not believe bitcoin meets the requirements of currency reserves.”
According to Jordan, the SNB, which has 937 billion in foreign currency investments, has lowered its stake in energy and fossil fuel industries from 10% to 3% to 4% of its holdings.
According to a March annual report, the SNB’s reserves as of December 31, 2021, totaled just over CHF1 trillion (US $1.03 trillion). The US dollar accounted for 39% of reserves, the euro for 37%, the Japanese yen for 8%, and the British pound for 6%. Gold reserves were a little shy of CHF56 billion or less than 6% of total reserves. At the end of 2021, the percentage of equities in foreign exchange reserves was 23 percent.
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