Swiss National Bank Rejects Bitcoin Reserves Despite Crypto Advocacy Push

The Swiss National Bank firmly rejected proposals to include Bitcoin in its currency reserves, despite mounting pressure from cryptocurrency advocates who argue for digital asset adoption as a hedge against global economic uncertainty. SNB officials maintained that cryptocurrencies fail to meet institutional standards for reserve assets, characterizing them as a “niche phenomenon.”

Crypto campaigners have launched a referendum initiative seeking constitutional changes that would mandate Bitcoin holdings alongside traditional reserves like gold. The proposal reflects growing sentiment that central banks should diversify beyond conventional assets amid economic turmoil triggered by international trade tensions.

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Institutional Standards Debate Intensifies

CoinDesk reports that despite Switzerland’s growing acceptance of cryptocurrencies, SNB’s President dismissed them as a “niche phenomenon,” highlighting the divide between regulatory acceptance and institutional adoption at the central bank level.

The referendum campaign argues that Bitcoin’s limited supply and decentralized nature make it an ideal hedge against inflation and geopolitical risks. Proponents cite examples of other nations exploring cryptocurrency reserves as evidence of shifting global monetary paradigms.

Stripe Advances Stablecoin Integration

In contrast to SNB’s conservative stance, payment giant Stripe announced testing for a new stablecoin tool targeting companies outside major Western markets. CEO Patrick Collison revealed the platform will enable businesses in developing regions to access dollar-denominated digital currencies for international transactions.

The initiative represents significant private sector advancement in cryptocurrency infrastructure, potentially circumventing traditional banking limitations that have historically restricted global commerce in emerging markets.

Nike Faces Legal Challenge Over NFT Shutdown

Nike confronts a class-action lawsuit from purchasers of its NFT collections following the abrupt closure of its RTFKT digital assets division. Yahoo Finance reports that plaintiffs claim they suffered significant losses when Nike terminated the project, arguing they were misled about the nature of their digital asset purchases.

Plaintiffs argue they suffered significant losses when Nike terminated the project in December, claiming they were misled about the nature of their digital asset purchases and the company’s long-term commitment to the NFT ecosystem.

ARK Investment Projects $2.4 Million Bitcoin Target

ARK Investment Management released analysis projecting Bitcoin could reach $2.4 million by 2030, driven by institutional adoption, nation-state accumulation, and expanding on-chain utility. The forecast assumes continued growth in corporate treasury allocations and sovereign wealth fund participation.

The projection reflects increasing mainstream acceptance of cryptocurrency as an asset class, with major financial institutions developing infrastructure to facilitate institutional-grade custody and trading services.

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