European Central Bank (ECB) president and distinguished Bitcoin (BTC) critic Christine Lagarde has shared a household story about unsuccessful cryptocurrency investments, according to a report from Reuters.
Lagarde informed college students at a city corridor in Frankfurt on Nov. 24 that her son lost “almost all” of his investments in crypto belongings regardless of persistent warnings, Reuters reported.
“He ignored me royally, which is his privilege,” Lagarde reportedly declared, including that he lost “almost all the money he had invested.”
The ECB chief didn’t disclose the sum her son lost, noting that he claimed it wasn’t “a lot,” however solely “about 60%” of his crypto investments. “So when I then had another talk with him about it, he reluctantly accepted that I was right,” Lagarde reportedly said, including:
“I have, as you can tell, a very low opinion of cryptos […] People are free to invest their money where they want, people are free to speculate as much as they want, (but) people should not be free to participate in criminally sanctioned trade and businesses.”
Lagarde is thought within the cryptocurrency neighborhood for her anti-crypto stance. In 2022, the ECB chief argued that cryptocurrencies are “worth nothing” as a result of the belongings are “based on nothing.” In 2021, the ECB president additionally predicted that central banks worldwide would not be holding Bitcoin anytime quickly.
Related: European regulator: CASPs should work on protocol interoperability, self-hosted wallets
While criticizing cryptocurrencies like Bitcoin, Lagarde has emerged as a significant fan of the idea of the central financial institution digital foreign money. In April 2023, Lagarde admitted {that a} potential digital euro can be utilized in a “limited” manner to control day-to-day payments.
This is a creating story, and additional data shall be added because it turns into accessible.
Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in
