Lagarde's Son Ignored Warnings and Lost "Almost All" of His Crypto Investments
Christine Lagarde, the president of the European Central Bank (ECB) and a well-known critic of Bitcoin, revealed that her son lost a significant amount of money on cryptocurrency investments. Speaking at a town hall event in Frankfurt, Lagarde shared that despite her persistent warnings, her son ignored her advice and lost "almost all" of his crypto assets. While Lagarde did not disclose the exact amount, she mentioned that it was around 60% of his investment.
A Change of Heart
Although Lagarde maintains a negative stance on cryptocurrencies, she acknowledged that her son's losses made him reluctantly accept her viewpoint. The ECB chief emphasized her skepticism towards crypto assets, stating that she has a "very low opinion" of them. Lagarde emphasized that while individuals have the freedom to invest and speculate, they should not be allowed to engage in illegal activities related to cryptocurrencies.
Lagarde's Anti-Crypto Stance
Christine Lagarde has been a vocal critic of cryptocurrencies, asserting that they are "worth nothing" and lack underlying value. She has also expressed skepticism regarding central banks holding Bitcoin. However, Lagarde has shown support for the concept of a central bank digital currency (CBDC) and has suggested that a potential digital euro could be used for everyday transactions.
This is a developing story, and we will provide further updates as more information becomes available.
