Nikolajsen said that if the US managed to purchase one million Bitcoins, it would put pressure on all participants. He predicted a goldrush, not just among small investors, but also companies and governments. “The Chinese will be forced to take action, just as other countries who have not established their own Bitcoin reserve.”
“Switzerland is No Longer The Right Place to Start a Crypto Company.”
According to Nikolajsen Switzerland also needs Bitcoin as a reserve currency.
He argued that it was not in Switzerland’s best interest to have a Swiss National Bank (SNB) that bought all types of debt instruments from the EU, and lost so much money for such a prolonged period of time. The SNB, instead, should be holding “good assets” like Bitcoin.
Nikolajsen stated that Switzerland had lost ground on crypto regulation. He added, “Switzerland may be better at regulation than some EU countries, but is not a leader in the world”. The Federal Council’s personnel changes killed the vision of Switzerland becoming a global leader in crypto.
According to Nikolajsen the Financial Market Supervisory Authority has lost its nerve and is no longer granting crypto companies banking licences.
“The authority does not want crypto banks but rather banks who “do crypto”. He added that Switzerland was no longer a good place to launch a crypto business.
Switzerland still attracts crypto investors
Niklas Nikolajsen, a Swiss crypto entrepreneur who has been out of the industry since 2021, is still well known.
In November, he was elected president of the Bitcoin Association Switzerland. This industry group is aimed at strengthening Switzerland’s role as a leader in Bitcoin innovation.
Not all Bitcoin investors, however, share Nikolajsen’s pessimistic view. Billionaire Christian Angermayer , reportedly, left the United Kingdom in September for Switzerland’s bitcoin hub, Lugano.
Lugano, a small Swiss town with an Italian-speaking population, is a great example of how crypto works. It has about 1,000 shops that accept Bitcoin. Part of this is due to the partnership with Tether which allows crypto to be used for everyday purchases.
Lugano hosts the “Plan BTC Forum”, a Bitcoin conference every year since 2022.
A recent report from Social Capital Markets ranked Switzerland second with a score 74.5. It has 900 crypto companies registered and no capital gains tax on long-term investments.
