Switzerland and Australia Abandon Plans for a Strategic Crypto Reserve
Both Switzerland and Australia have rejected proposals to incorporate cryptocurrencies into their official reserves, amidst volatility concerns.
Despite the recent announcement from US President Donald Trump about a strategic crypto reserve involving Bitcoin, Ethereum, Ripple, Solana, and Cardano, both Switzerland and Australia have opted against this idea for their official reserves.
On March 1, 2025, Martin Schlegel, President of the Swiss National Bank (SNB), turned down a proposal to include Bitcoin in official reserves, asserting that cryptocurrencies do not meet the necessary criteria for a stable currency.
đź’ĄBREAKING:
SWISS NATIONAL BANK REJECTS BITCOIN 🚨
SNB President Martin Schlegel indicates that Bitcoin is too volatile and lacks the attributes of a reliable currency.
THEY’LL REGRET THIS! pic.twitter.com/axuNIFmF8x
— Crypto Rover (@rovercrc) March 1, 2025
In Australia, the government has also confirmed it will not establish a strategic crypto reserve. However, they are gearing up for a potential new government. A recent YouGov poll shows the center-right coalition leading the center-left Labor party by 51% to 49%.
Australia States “No Plans for Strategic Crypto Reserve”… Focus on Regulation
The Australian administration clarified that they do not intend to follow in the footsteps of the Trump administration regarding a strategic crypto reserve but prioritize creating a regulatory framework instead.
— Substance (@Bonzil_theroot) March 5, 2025
Crypto Volatility: A Major Reason For Not Including It In Reserves
During a media discussion, Tom Matthews, the head of corporate affairs at the Australian crypto exchange Swyftx, commented on the complexities of managing such a reserve. He pointed out that cryptocurrencies’ extreme volatility makes them unsuitable for maintaining the long-term value of a reserve.
Despite the SNB’s decision, cryptocurrency supporters in Switzerland continue to pursue the “Bitcoin Initiative.”
Launched in December 2024, this initiative aims to amend the Swiss constitution to necessitate the SNB to maintain part of its reserves in Bitcoin along with gold.
Notably, in Switzerland, around one in nine individuals reportedly invest in cryptocurrencies, highlighting an increasing acceptance among the general populace.
