European Central Bank President Lagarde: Cryptocurrencies have no value | Financial

European Central Bank President Lagarde: Cryptocurrencies have no value |  Financial

Lagarde believes that cryptocurrency trading should be regulated. She worries about people who invest in cryptocurrencies like bitcoin without understanding the risks and could lose everything, which leads to a huge disappointment. There is no intrinsic value for these coins to serve as a “safe anchor,” says Lagarde, who has criticized cryptocurrencies in the past.

Son in cryptocurrency

She also said that she does not own cryptocurrency herself, but that one of her sons is investing in cryptocurrency, contrary to her advice. Lagarde says she can’t stop him because he’s a free man, but she keeps a close eye on cryptocurrency.

There has been a lot of turmoil in cryptocurrency trading lately, with a significant drop in value. Another ECB executive recently said that cryptocurrencies are a kind of “wild west.” He also made comparisons between digital currencies and the 2008 financial crisis.

interest rate increase

In the televised broadcast, Lagarde also said that the European Central Bank may raise interest rates for the first time in ten years in July. But the central bank official believes that a half percentage point rate hike goes too far. Klaas did not rule out the head of De Nederlandsche Bank that week. But it appears that Lagarde finds an interest rate move of a quarter of a percentage point sufficient.

audio notation

DFT reporters Martin Visser and Hermann Stam also discussed the prospect of an ECB rate hike, nervous crypto investors, and posts on their weekly podcast “Question for the Cents.” Listen to the podcast herebelow or across all popular podcast apps, like Apple Podcastgoogle podcast And spotify

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