While a large part of leading investment banks are looking at Cryptocurrency investments, will Switzerland Central Bank follow suit? Vice President of Swiss Bank, Martin Schlegel was asked if the institution plans to keep Bitcoin in his reserves. The issue comes after US President Donald Trump showed interest this year to diversify the reserves with leading cryptocoirs. The increasing international attention to BTC means that major financial institutions note the broader Cryptocurrency market.
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Bitcoin: Will the Swiss bank start buying BTC?
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Swiss Bank VP also stated that Bitcoin experiences large fluctuations in price and volatility is a risky business. “For example, it is the preservation of value. And as you know, crypto courses have large fluctuations in value, so this is not a given,” he said.
VP for Swiss Bank pointed out that bitcoin and other cryptocorate “Is basically software” And are susceptible to bugs, which further undermines their reliability and credibility. In summary, the Swiss bank will not buy bitcoin or other cryptocorate and will adhere to Fiat and other goods.
But if Swiss Bank starts buying Bitcoin in the future, it would be a big profit for the Cryptocurrency market. The bank manages assets of over $ 3.2 trillion with several billionaires parking their money in it. It provides protection by not revealing the names of the holders under any circumstances. This makes it a lucrative alternative to have an account that not only billionaires, but even politicians park their black money in the bank.