{"id":16257,"date":"2025-03-05T11:32:19","date_gmt":"2025-03-05T11:32:19","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=16257"},"modified":"2025-03-05T11:32:19","modified_gmt":"2025-03-05T11:32:19","slug":"switzerland-and-australia-are-no-longer-interested-in-a-strategic-crypto-reserve","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=16257","title":{"rendered":"Switzerland And Australia Are No Longer Interested In A Strategic Crypto Reserve"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">Despite US President Donald Trump\u2019s recent announcement of a strategic crypto reserve involving Bitcoin, Ethereum, Ripple, Solana and Cardano, central banks in both Switzerland and Australia have dismissed the idea of incorporating crypto into their official reserves.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">On 1 March 2025, Swiss National Bank (SNB) President Martin Schlegel rejected the proposal to hold part of its reserves in bitcoin, as proposed by a people\u2019s initiative.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to <a href=\"https:\/\/www.swissinfo.ch\/eng\/banking-fintech\/swiss-central-bank-chief-rejects-holding-bitcoin-in-reserves\/88947727\" target=\"_blank\" rel=\"nofollow\">local reports,<\/a> Schlegel said that cryptocurrencies do not fulfill the essential characteristics that a good currency should have.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f4a5.png\" alt=\"\ud83d\udca5\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\">BREAKING: <\/p>\n<p>SWISS NATIONAL BANK REJECTS BITCOIN <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f6a8.png\" alt=\"\ud83d\udea8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><\/p>\n<p>SNB President Martin Schlegel says <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$BTC<\/a> is too volatile and lacks the qualities of a good currency. <\/p>\n<p>THEY\u2019LL REGRET THIS! <a href=\"https:\/\/t.co\/axuNIFmF8x\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/axuNIFmF8x<\/a><\/p>\n<p>\u2014 Crypto Rover (@rovercrc) <a href=\"https:\/\/twitter.com\/rovercrc\/status\/1895861051474002177?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">March 1, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Meanwhile, Australia\u2019s current government has indicated that it doesn\u2019t have plans to establish a crypto strategic reserve.\u00a0However, the country is on the brink of choosing a new government. The latest YouGov poll <a title=\"null\" href=\"https:\/\/au.yougov.com\/politics\/articles\/51697-coalition-leads-51-49-in-latest-yougov-poll-with-strong-support-for-government-ownership-of-whyalla-steelworks\" target=\"_blank\" rel=\"null nofollow\" data-ct-non-breakable=\"null\">shows<\/a>\u00a0the center-right coalition holding a slight lead over the center-left Labor government, leading 51% to 49%.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Australia Declares &#8220;No Plans for Strategic Crypto Reserve&#8221;\u2026 Focus on Regulation<\/p>\n<p>The Australian government clarified that, unlike the Trump administration, it has no plans to establish a strategic crypto reserve. Instead, it is prioritizing regulatory framework development and\u2026 <a href=\"https:\/\/t.co\/OjsiSOoTX7\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/OjsiSOoTX7<\/a><\/p>\n<p>\u2014 Substance (@Bonzil_theroot) <a href=\"https:\/\/twitter.com\/Bonzil_theroot\/status\/1897203862697861545?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">March 5, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Crypto Volatility: A Major Reason For Not Including It In Reserves<\/h2>\n<p>Speaking to a media house, Tom Matthews, head of corporate affairs at Australian crypto exchange Swyftx, said that while the idea for a reserve is popular, it can also be \u201cfraught with complexity.\u201d He added that if not managed properly, the reserve creates the potential for concentration risk with some tokens.<\/p>\n<p>\u201cFirstly, cryptocurrencies are extremely volatile,\u201d SNB President said, \u201cwhich is not conducive to maintaining the value of SNB investments in the long term.\u201d<\/p>\n<p><span style=\"font-weight: 400\">Schlegel<\/span> continued, \u201cSecond, our reserves need to be highly liquid so that they can be used quickly for monetary policy purposes if needed. Third, cryptocurrencies display security weaknesses. They are essentially software, and we all know that software can have bugs and other weak points.\u201d<\/p>\n<p><span style=\"font-weight: 400\">Schlegel also described cryptocurrencies as a \u201cniche phenomenon,\u201d noting that their market capitalization remains relatively small compared to traditional financial systems.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Best New Cryptocurrencies to Invest in 2025<\/span><\/a><\/strong><\/p>\n<h2><strong>Switzerland Continue To push Forward With \u201cBitcoin Initiative\u201d<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Despite the SNB\u2019s rejection, cryptocurrency advocates in Switzerland continue to push forward with the \u201cBitcoin Initiative.\u201d <\/span><\/p>\n<p><span style=\"font-weight: 400\">Launched in December 2024, this campaign seeks to amend Switzerland\u2019s constitution to require the SNB to allocate part of its reserves to Bitcoin alongside gold.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Under Swiss law, the initiative committee has 18 months to collect 100,000 signatures for the proposal to be put to a vote. It remains uncertain whether the campaign will succeed.<\/span><\/p>\n<p>Notably, i<span style=\"font-weight: 400\">n Switzerland, one in nine people reportedly invest in crypto assets\u2014a statistic that reflects increasing mainstream acceptance.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/analysis\/crypto-forecast-best-crypto\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<p><span style=\"font-weight: 400\">    <\/p>\n<ul class=\"nnbtc-key-takeaways__list\">\n        <\/ul>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <\/li>\n<p><\/span><span style=\"font-weight: 400\">While cryptocurrency advocates continue to push for broader adoption, central banks remain cautious, citing concerns over volatility, liquidity, and security. <\/span><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <\/li>\n<p><\/span><span style=\"font-weight: 400\">Despite the SNB\u2019s rejection, cryptocurrency advocates in Switzerland continue to push forward with the \u201cBitcoin Initiative.\u201d<\/span><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/span><\/p>\n<\/div>\n<p>    <\/span><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/switzerland-and-australia-are-no-longer-interested-in-a-strategic-crypto-reserve\/\">Switzerland And Australia Are No Longer Interested In A Strategic Crypto Reserve<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Despite US President Donald Trump\u2019s recent announcement of a strategic crypto reserve involving Bitcoin, Ethereum, Ripple, Solana and Cardano, central banks in both Switzerland and Australia have dismissed the idea of incorporating crypto into their official reserves.\u00a0 On 1 March 2025, Swiss National Bank (SNB) President Martin Schlegel rejected the proposal to hold part of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-16257","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16257"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16257\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}