European Central Financial institution (ECB) president and outstanding Bitcoin (BTC) critic Christine Lagarde has shared a household story about unsuccessful cryptocurrency investments, in accordance to a report from Reuters.
Lagarde advised college students at a city corridor in Frankfurt on Nov. 24 that her son misplaced “nearly 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 misplaced “nearly all the cash he had invested.”
The ECB chief didn’t disclose the sum her son misplaced, noting that he claimed it wasn’t “rather a lot,” however solely “about 60%” of his crypto investments. “So after I then had one other discuss with him about it, he reluctantly accepted that I used to be proper,” Lagarde reportedly acknowledged, including:
“I’ve, as you’ll be able to inform, a really low opinion of cryptos […] Persons are free to speculate their cash the place they need, individuals are free to take a position as a lot as they need, (however) folks shouldn’t be free to take part in criminally sanctioned commerce and companies.”
Lagarde is understood within the cryptocurrency neighborhood for her anti-crypto stance. In 2022, the ECB chief argued that cryptocurrencies are “value nothing” as a result of the property are “based mostly on nothing.” In 2021, the ECB president additionally predicted that central banks worldwide wouldn’t be holding Bitcoin anytime quickly.
Associated: European regulator: CASPs ought to work on protocol interoperability, self-hosted wallets
Whereas criticizing cryptocurrencies like Bitcoin, Lagarde has emerged as a serious fan of the idea of the central financial institution digital forex. In April 2023, Lagarde admitted {that a} potential digital euro could be utilized in a “restricted” method to regulate day-to-day funds.
It is a creating story, and additional data can be added because it turns into accessible.
Journal: Tips on how to defend your crypto in a unstable market — Bitcoin OGs and consultants weigh in
