Bitcoin
Swiss National Bank President Dismisses BTC as Reserve Asset
Swiss National Bank (SNB) President Martin Schlegel has rejected the idea of holding bitcoin as part of Switzerland’s central bank reserves, citing a lack of stability, liquidity, and security, according to local media.
Speaking to the Tamedia group, Schlegel cited three primary concerns surrounding cryptocurrencies. The first one is their volatility, which he said makes them unsuitable for long-term value preservation.
“Second, our reserves need to be highly liquid so that they can be used quickly for monetary policy purposes if needed,” Schlegel told Tamedia before pointing to a lack of security inherent in being software-based assets. “We all know that software can have bugs and other weak points.”
The Swiss National Bank President’s words come amid a growing debate in Switzerland over the nascent asset class. A recent initiative is pushing for a constitutional amendment requiring the SNB to hold bitcoin in its reserves alongside gold, the article said.
The initiative, launched in December and led by entrepreneur Yves Bennaim, does not go into details when it comes to the bitcoin allocations but specifies it should be built up from the bank’s earnings. It has 18 months to collect 100,000 signatures in a bid to trigger a nationwide vote on the topic.
Despite Switzerland’s growing acceptance of cryptocurrencies, with various Swiss banks offering customers cryptocurrency-related services, Schlegel dismissed the asset class as a “niche phenomenon.” Currencies, he told Tamedia, have already been in competition, and Schlegel maintained the bank is “not afraid of competition from cryptocurrencies,” citing the continued strength of the Swiss franc.
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analysts
Tariffs, Trade Tensions May Be Positive for Bitcoin (BTC) Adoption in Medium Term: Grayscale
Tariffs and trade tensions could ultimately be positive for bitcoin (BTC) adoption in the medium term, asset manager Grayscale said in a research report Wednesday.
Higher tariffs result in stagflation— stagnant economic growth coupled with inflation — which is negative for traditional assets, but positive for scarce commodities such as gold, the report said.
Bitcoin is considered hard money, akin to digital gold, and is viewed as a modern store of value, the report noted.
Cryptocurrencies surged on Wednesday following President Donald Trump’s announcement of a 90-day pause on tariffs for countries that haven’t retaliated against the U.S.
“Trade tensions may put pressure on reserve demand for the U.S. Dollar, opening space for competing assets, including other fiat currencies, gold, and bitcoin,” Grayscale said.
Historical precedent suggests that dollar weakness and above-average inflation may persist, and bitcoin is likely to benefit from such a macro backdrop, the asset manager said.
“A rapidly improving market structure, supported by U.S. government policy changes” could help broaden bitcoin’s investor base, the report added.
Read more: Trump Administration Wants Weaker Dollar and That’s Positive for Bitcoin: Bitwise
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XRP prices dipped below $2 for the first time since December 2024 on Monday, even after a number of positive developments for the cryptocurrency.
The decline is surprising to many investors who had hoped recent good news would send its value higher. Market analyst Vincent Van Code attributes this underperformance to underlying economic issues and not with XRP itself.
Trump Tariffs Are Blamed For Crypto Market Decline
Van Code attributes the recent decline in cryptocurrencies to the tariffs imposed by US President Donald Trump on other nations.
The tariff situation is just a power play to utilize economic pressure to get better negotiating terms, said Van Code. He expects these trade tensions to be short-term and perhaps pave the way for the market to rebound in the near future.
Current #XRP prices are not aligned with recent @Ripple market announcenets, SEC case conclusion news, XRP US stockpile.
Do you think this is becuase XRP is not performing well?
I DONT! This is a global market downturn. Impacts across multiple markets, multiple countries, and…
— Vincent Van Code (@vincent_vancode) April 9, 2025
XRP Fundamentals Strong
Even after falling to $1.64 on April 7, XRP has shown a rebound by increasing to $1.82—a 10% increase. Van Code pointed out that Ripple and XRP’s fundamental strengths have not changed. They’re a hundred times better than a year ago when the SEC lawsuit was at its peak, he said.
The SEC-Ripple case resolution, potential inclusion in US digital asset reserves, and Ripple’s Hidden Road acquisition were all considered positive developments for the cryptocurrency.
Investment Strategy During Market Uncertainty
Van Code described his approach to today’s market condition, showing he buys such assets like XRP when sentiment is low but fundamentals remain in place.
He looks at weekly charts for larger decisions and uses hourly charts for intraday action. The market commentator termed XRP the “Fight Club” of cryptos because of its ability to withstand market action and stress.
Future Growth Drivers For XRP
Going forward, Van Code identified three key drivers to XRP adoption: regulation, corporate usage, and solid partnerships. He warned investors to avoid being influenced by short-term price fluctuations due to outside influences such as the tariff scenario.
The analyst said that he would only be jittery if XRP was the sole cryptocurrency that is dropping in value. He also stated that the current decline is part of a larger market trend and not particular to XRP.
The cryptocurrency market still responds to economic policy as investors look for indications that the tariff issue is resolved. Most XRP supporters are optimistic that as soon as these external pressures are gone, the price will more accurately reflect the good news surrounding Ripple and its currency.
Featured image from Unsplash, chart from TradingView
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