SNB President Thomas Jordan: Bitcoin & Co. only investments, no currencies

According to Swiss central bank chief Thomas Jordan, cryptocurrencies are not currencies in the classical sense, but rather should be understood as an asset class. Already in the past, he had repeatedly dealt with the subject of cryptocurrencies and the underlying technology.

As the news service Reuters reported, the Swiss economist Thomas Jordan said last Thursday again critical of cryptocurrencies. Jordan, who chairs the Swiss National Bank's (SNB) Governing Board, said that central banks are investigating cryptocurrency very intensively. He personally considers it more as a form of investment rather than a currency.


As Jordan said in Geneva at the end of September 2016, it may be possible that with decentralized cryptocurrencies and central banks, there may eventually be two co-existing technologies that may even complement one another. However, the blockchain and associated distributed ledger technology could "turn the financial sector upside down," warned Jordan's audience at the Sibos conference.