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Swiss Central Banker: Bitcoin 'More Investment Than Currency'

The chairman of Swiss National Bank said yesterday that he sees bitcoin more as an investment than a currency.

Nov 24, 2017 at 9:10 a.m. UTC
Updated Sep 13, 2021 at 7:11 a.m. UTC

The chairman of the Swiss National Bank (SNB) spoke out on cryptocurrencies yesterday.

Speaking at an event in Basel, Thomas Jordan, who also chairs the international Central Bank Counterfeit Deterrence Group, said that central banks are eyeing the issues of cryptocurrencies "very intensively," adding, "I would look at them more as an investment than a currency."

According to Reuters report, Jordan noted:

"It is important to say it is not question of technology, but a question of who has access to central bank money and in what form. There are up to now many unsolved questions."

He further said that central banks must consider the possible effects that cryptocurrencies might have on the financial ecosystem.

These are not the first comments from the central banker on the technology.

Addressing the Sibos conference in Switzerland last year, he described the underpinning blockchain technology as turning finance "on its head."

He revealed at the time that the bank is talking with market participants, regulators and other central banks about the future role of blockchain and distributed ledgers, which promise "first and foremost to reduce cost."

Thomas Jordan image via CoinDesk Archives

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