Tag: Bank

Bitcoin isn’t a worthy reserve asset, Swiss central bank president says: Report

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Swiss National Bank (SNB) President Martin Schlegel reportedly doesn’t want to make Bitcoin a reserve asset in Switzerland — citing a lack of stability, liquidity concerns and security risks. Schlegel’s position opposes a proposal from Swiss Bitcoin nonprofit think tank 2B4CH and other Bitcoin advocates to constitutionally mandate SNB to hold Bitcoin (BTC) on its balance sheet. Schlegel first told Swiss local media outlet Tamedia that Bitcoin and other cryptocurrencies are too volatile, which isn’t conducive to maintaining the value of SNB’s investments. “Second, our reserves need to be highly…

Bitcoin isn’t a worthy reserve asset, Swiss National Bank president says: Report

boss

Swiss National Bank (SNB) President Martin Schlegel reportedly doesn’t want to make Bitcoin a reserve asset in Switzerland — citing a lack of stability, liquidity concerns and security risks. Schlegel’s position opposes a proposal from Swiss Bitcoin nonprofit think tank 2B4CH and other Bitcoin advocates to constitutionally mandate SNB to hold Bitcoin (BTC) on its balance sheet. Schlegel first told Swiss local media outlet Tamedia that Bitcoin and other cryptocurrencies are too volatile, which isn’t conducive to maintaining the value of SNB’s investments. “Second, our reserves need to be highly…

Bank CEO calls out Washington’s debanking “skullduggery”: Bitcoin Investor Week

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Recent efforts to “debank” crypto firms in the US revealed a “staggering” level of corruption among government officials, and the problem is not yet resolved, one banking executive said in a Feb. 27 interview during Bitcoin Investor Week.  “The magnitude of skullduggery that is happening in Washington D.C. is really incredible… and it’s not over yet,” Caitlin Long, Custodia Bank’s founder and CEO, said during a panel at the event.   In 2023, the US Federal Reserve, which regulates banks, stymied Custodia’s efforts to service crypto firms by denying the…

Yougov Poll Reveals Nearly 15% Would Switch Their Bank Accounts for Crypto in Brazil

According to David Eastman, Yougov’s managing director for Latin America, this shows the advance of crypto in Brazil and should serve as a wake-up call for banks. Yougov Poll Shows Some Users Would Substitute Banks With Crypto A recent survey conducted by Yougov, an international online research data firm, has given insights into the advancement […] Source CryptoX Portal

Czech National Bank Chief Ales Michl Continues Making Case for Bitcoin (BTC)

Czech National Bank Governor Ales Michl on Wednesday continued his campaign for possibly adding bitcoin (BTC) to the central bank balance sheet, including encouraging words for those frustrated by the reputational damage inflicted on bitcoin by the broader crypto market. The crypto market will experience “failures and successes,” wrote Michl in a longish X post. “Bitcoin, however, is a different story. It should not be lumped together with other crypto assets.” It might not be a coincidence that Michl chose to post this after the events of the past few…

Bank of New York Mellon Holds $13,280,431 Worth of Bitcoin (BTC) Exchange-Traded Funds: SEC Filing

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The Bank of New York Mellon (BK) is holding more than $13 million worth of shares in Bitcoin (BTC) exchange-traded funds (ETFs). According to a new filing with the U.S. Securities and Exchange Commission (SEC), Bank of New York Mellon currently holds $13,280,431 worth of shares in Bitcoin ETFs. The bank’s holdings include 115,108 shares of WisdomTree Bitcoin Fund (BTCW) worth about $11.87 million and 25,309 shares of BlackRock’s iShares Bitcoin Trust (IBIT) worth about $1.4 million. Other US banks are also holding BTC ETF shares. Banking giant JPMorgan Chase…

Germany’s central bank chief pushes for sovereign digital euro, still sees Bitcoin as ‘digital tulip’

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Bundesbank president Joachim Nagel says the European Union needs state-controlled digital currency as a safeguard against private sector dominance in global finance. Joachim Nagel, head of Germany’s central bank, isn’t changing his mind on crypto, pushing for a digital euro to help Europe stay financially independent. Speaking at an OMFIF event at the London School of Economics, Nagel stressed that the European Central Bank should remain cautious about monetary policy, dismissing Bitcoin (BTC) as “more like an asset class” and describing it as “the opposite of transparent.” He also called…

Bitcoin ETFs Get $2 Million Boost From National Bank of Canada

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They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer…

Bank of Montreal Has Been Quietly Buying Bitcoin ETFs

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The Bank of Montreal (BMO), Canada’s third largest bank by asset size, quietly purchased approximately $150 million in spot bitcoin ETFs. The information came to light when the bank filed its Form 13F-HR with the U.S. Securities and Exchange Commission (SEC) on Thursday. The regulator requires institutional investment managers who manage more than $100 million […] Original