Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Seeking Alpha 2022-04-29 19:02:45

Switzerland's central bank could eventually start buying bitcoin, Chair says

Swiss National Bank could start buying bitcoin (BTC-USD) in the future, though the cryptocurrency doesn't meet the standards of currency reserves, Chairman Thomas Jordan said Friday at the central bank's annual general meeting. "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 explained. "We can arrange the technical and operative conditions relatively quickly, when we are convinced we must have bitcoin in our balance sheet." The central bank's currency reserves, which includes gold, totaled more than CHF 1T ($1.03T) as of Dec. 31, 2021. The U.S. dollar accounted for 39% of SNB's reserves and the euro took up 37%. Looking at intraday price action, bitcoin (BTC-USD -3.6%) is dropping $38.5K in Friday afternoon trading. Earlier this week (April 27), the Central African Republic became the second nation in the world to adopt bitcoin as legal

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.