Swiss National Bank Will Not Offer Exposure to Cryptocurrencies: Chairman Explains Why

Fri, 04/30/2021 - 10:26

Chairman of Swiss National Bank has explained why SNB will not be offering exposure to Bitcoin and other digital currencies to its clients

Swiss National Bank Will Not Offer Exposure to Cryptocurrencies: Chairman Explains Why

Cover image via stock.adobe.com

Read U.TODAY on

Google News

According to the Bloomberg Terminal, SNB Chairman Thomas J. Jordan has stated that the Swiss National Bank will not be offering cryptocurrency investments to its clients.

The reason is that cryptocurrencies are not liquid enough. Back in 2017, however, Jordan did consider crypto an investment asset and not a currency.

Some commentators have issued a public reminder that Tesla sold 10 percent of its Bitcoin holdings in Q1 this year in order to test Bitcoin liquidity, according to a recent tweet by Elon Musk.

Cardano Developer IOHK Announces Major Partnership in Tanzania

The CEO assured his opponent in that debate, Dave Portnoy, that he had not sold any of his BTC, though.

#Bitcoin News #Elon Musk

About the author

Yuri Molchan

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.