Christine Lagarde, head of the European Central Bank, known for her anti-crypto cryptocurrencies, said her son is investing in cryptocurrencies. But when asked if she would still invest, she added, “I wouldn’t put my finger in there.”
Anti-crypto Christine Lagarde couldn’t keep her son away!
European Central Bank president and Bitcoin critic Christine Lagarde revealed that her son is investing in cryptocurrencies. However, Lagarde says he still won’t touch digital assets.
On a show she attended, an audience member asked ECB President Christine Lagarde if she owns any cryptocurrencies. “No, I don’t have any cryptocurrencies. Because I want to practice what I preach,” she said. However, she admitted that she couldn’t keep crypto away from her family with the words “I actually have a son who invests in crypto, I follow it very carefully”.
The audience then asked, “So what did you conclude from that?” she asked. “I wouldn’t put my finger there,” Lagarde replied. On the other hand, she added that she didn’t listen to her son’s advice to stay away from crypto.
In the span of two minutes Christine Lagarde brings to life two Principal Skinner memes. Quite impressive. (1/2) pic.twitter.com/xhtmbel8Yj
— Marty Bent (@MartyBent) May 25, 2022
What is the ECB President’s criticism of cryptocurrencies based on?
As you may recall from the news of Cryptokoin.com , Christine Lagarde is a fierce critic of Bitcoin and cryptocurrencies. Just this week, such assets “have no value,” she said. He listed the following reasons in his statements:
It is not based on anything. There is no underlying entity to act as a security anchor. I said from the beginning that crypto assets are highly speculative, highly risky assets.
Earlier, Christine Lagarde said it was ‘very unlikely’ for central banks to hold Bitcoin and claimed that Bitcoin is a ‘highly speculative asset’ related to money laundering.
Lagarde, however, is very enthusiastic about centralized cryptocurrencies, namely central bank digital currencies (CBDCs). CBDC is a form of digital fiat money like the US dollar or euro, and many countries around the world are at different stages of researching and implementing them.
Lagarde previously described the idea of a digital euro as something that is ‘significant’ and could benefit the trading bloc. The EU said in February that it would consider legislation to create a digital euro by the beginning of 2023. Also, on the College Tour program, when Lagarde was asked about inflation and how to reduce it, he gave the odd reply, “It will pass with time,” somewhat reminiscent of Fed Chairman Jerome Powell’s phrase ‘temporary inflation’.
