Crypto Skeptic “Royally Ignored by Son”
Sometimes investments don’t go to plan. This holds for European Central Bank Christine Lagarde’s son.
Christine Lagarde, the president of the European Central Bank and the well-known crypto critic, said that her son did not heed her investment advice.
She didn’t specify which of her sons, both in their 30s, made a bad crypto investment, but she added that he “lost it all, lost about 60% of it.”
Lagarde is known for being vehemently anti-crypto. She previously labeled them speculative, worthless and a tool often used by criminals for illicit activity.
She also is known for her words that crypto assets “are worth nothing” and “based on nothing”, dismissing the possibility of central banks holding Bitcoin.
Previously, GNcrypto analyzed the timeline of the digital euro launch.
"He ignored me royally, which is his privilege," Lagarde told a town hall with students in Frankfurt. "And he lost almost all the money that he had invested."
"So when I then had another talk with him about it, he reluctantly accepted that I was right,” she wrote.
Last year, she stated that she has “a very low opinion of cryptos” while adding that “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, however, thinks highly of the digital euro. In October, she said that the CBDC is in the making, adding that “all European institutions will be involved to make sure that Europe is equipped with the currency of the future.”
