{"id":449515,"date":"2020-11-12T01:00:12","date_gmt":"2020-11-12T01:00:12","guid":{"rendered":"https:\/\/ktsl888.com\/?p=449515"},"modified":"2024-06-11T14:08:16","modified_gmt":"2024-06-11T14:08:16","slug":"pro-crypto-group-attempts-to-get-bitcoin-added-as-a-swiss-reserve-currency","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/pro-crypto-group-attempts-to-get-bitcoin-added-as-a-swiss-reserve-currency\/","title":{"rendered":"Pro-Crypto Group Attempts To Get Bitcoin Added As A Swiss Reserve Currency"},"content":{"rendered":"
Bitcoin is a lot of different things to different people. It is a store of wealth, a transfer of value, an insurance policy against the unknown<\/a>, and even a source of hope.<\/p>\n Soon, one pro-crypto group hopes to get Bitcoin added alongside gold and the dollar as a Swiss Reserve Currency. Here’s why that would be an important nod of approval for the cryptocurrency, and why it might unfortunately never happen.<\/p>\n In addition to the growing list of what Bitcoin is the answer to<\/a>, the cryptocurrency is now also preserving corporate treasuries and hedge funds from inflation.<\/p>\n It is serving almost all of the same purposes as gold as a monetary asset yet does it better by a large margin. Institutions have taken notice, and expect the asset to appreciate faster than anything else on the face of the planet.<\/p>\n Related Reading | Bitcoin Held By Public Companies Now On Par With Past Market Cap<\/a><\/strong><\/em><\/p>\n And as the cryptocurrency becomes more widely adopted<\/a> and matures, it will eventually assume other roles and continue to grow its foothold over finance.<\/p>\n Some of the smartest minds in the world believe that Bitcoin could eventually become the global reserve currency<\/a>. Among the next stops for the still very young cryptocurrency, is to become a reserve currency first, and one pro-Bitcoin group is trying to achieve just that.<\/p>\n <\/p>\n A pro-cryptocurrency group is trying to get Bitcoin added to Switzerland’s list of reserve currencies, next to the franc, dollar, and gold.<\/p>\n Switzerland is the only country in the world, that within its constitution, article 99 focuses<\/a> on a specific monetary policy where central banks in the country are “obligated” to hold gold.<\/p>\n According to Robert Sharratt<\/a>, Managing Director of CrescoFin SA, “the Swiss are common sense people.”<\/p>\n “They know what happens when you print too much paper money,” he added. Sharratt and others that are part of his initiative believe that Bitcoin serves a similar enough role as gold in the world of finance, but arrived after the constitution was created.<\/p>\n Sharratt’s pitch is that “if you like gold, you’re going to like Bitcoin even more.”<\/p>\nCan A Cryptocurrency Become The Global Reserve Currency?<\/h2>\n
Bitcoin trading against the Swiss franc in 2020 | Source: BTCCHF on TradingView.com<\/a><\/pre>\n
Pro-Crypto Group Pushes For Bitcoin To Be Added To Swiss Reserve Currency List<\/h2>\n