BCE chief's son made losing investments only in crypto

Christine Lagarde, president of the European Central Bank (BCE) and a well-known critic of Bitcoin and the cryptocurrency world at large shared the story of an unsuccessful cryptocurrency investment.

On November 24 2023, during a town hall meeting in Frankfurt, Lagarde told a group of students how her son lost "almost all" of his crypto investments despite constant warnings, "He totally ignored me, which of course is his right. But he lost almost all the money he had invested."

The BCE chief didn't disclose the amount his son lost, but pointed out that it wasn't a particularly large amount.

Lagarde is known in the community for her anti-crypto stance. In 2022, the BCE chief argued that cryptocurrencies "are worthless" because the assets are "based on nothing." He also stated in 2021 that central banks of the world's various nations are very unlikely to start holding BTC.

While criticizing cryptocurrencies, Lagarde is a strong supporter of the Central Bank Digital Currency (CBDC) concept. In April 2023, she admitted that the digital euro will be used in a "limited" way to control payments that citizens can make.

That this fact will toughen the president in his fight against the crypto world? we all know about the risk we incur by investing in them and trading them, as they're very volatile tokens, but that doesn't mean we're stupid or crazy. I remind you all how very ordinary investment funds promoted by certain banks whose names I won't mention had people buy shares in a Pimco fund (I'm talking to you about back in the day) and the clients all lost huge amounts of money on them. This is to make you understand that obviously where there is gain there is risk, in everything.

Bicci