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.

AccessTimeIconNov 24, 2017 at 9:10 a.m. UTC
Updated Sep 13, 2021 at 7:11 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.