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Wednesday

12 May 2021

Dismissing Clear Market Data, Swiss National Bank Chairman Says Bitcoin Not Liquid Enough

Dismissing Clear Market Data, Swiss National Bank Chairman Says Bitcoin Not Liquid Enough


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Comments from the Swiss National Bank chairman signal that he does not understand the bitcoin market or is strategically downplaying it.

Today, a report emerged indicating that Chairman of the Swiss National Bank (SNB) Thomas Jordan commented on the liquidity of the “cryptocurrency” market.

While the chairman did not mention bitcoin by name specifically, bitcoin is by far the most liquid asset in the cryptocurrency market, and is the only logical choice for the central bank to add to its balance sheet among all “cryptocurrencies,” so it stands to reason that he is dismissing bitcoin’s liquidity.

Digging into the report, and SNB’s strategy in general, it becomes clear that Jordan does not understand bitcoin, its liquidity or its position in relation to the investment assets that he does consider to be “liquid enough.”.

It is clear that Jordan is attempting to downplay what is really occurring: Central banks are being displaced and disrupted by superior technology in real time, and the game theory suggests that they should further accelerate their own demise by accumulating the world's first and only absolutely scarce monetary asset.

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Why Fiat Experts Don’t Get Bitcoin
published: 49 minutes ago
There are various reasons traditional experts do not understand bitcoin and thus have negative views on it.

sentiment (-0.2) Negative

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