European Central Financial institution (ECB) president and outstanding 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 “virtually all” of his investments in crypto property regardless of persistent warnings, Reuters reported.
“He ignored me royally, which is his privilege,” Lagarde reportedly declared, including that he lost “virtually all of the money he had invested.”
The ECB chief didn’t disclose the sum her son lost, noting that he claimed it wasn’t “lots,” however solely “about 60%” of his crypto investments. “So after I then had one other speak with him about it, he reluctantly accepted that I used to be proper,” Lagarde reportedly acknowledged, including:
“I’ve, as you possibly can inform, a really low opinion of cryptos […] Individuals are free to take a position their money the place they need, persons are free to invest as a lot as they need, (however) individuals shouldn’t be free to take part in criminally sanctioned commerce and companies.”
Lagarde is thought within the cryptocurrency group for her anti-crypto stance. In 2022, the ECB chief argued that cryptocurrencies are “worth nothing” as a result of the property are “primarily based on nothing.” In 2021, the ECB president additionally predicted that central banks worldwide would not be holding Bitcoin anytime quickly.
Associated: European regulator: CASPs should work on protocol interoperability, self-hosted wallets
Whereas criticizing cryptocurrencies like Bitcoin, Lagarde has emerged as a significant fan of the idea of the central financial institution digital forex. In April 2023, Lagarde admitted {that a} potential digital euro can be utilized in a “restricted” method to control day-to-day payments.
This can be a growing story, and additional data can be added because it turns into obtainable.
Journal: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in
