2023-11-24 13:27:57
The president of the European Central Bank said one of her sons lost almost “all” of his investment in cryptocurrencies.
This is a story that is unlikely to change Christine Lagarde’s opinion regarding cryptocurrencies for individual investors. While the president of the European Central Bank (ECB) is opposed to this new asset class, she declared that one of her sons (whose name has not been revealed), had lost almost “everything” his investment in cryptocurrencies.
“He royally ignored me, which is his privilege,” Christine Lagarde told students in Frankfurt, as reported Archyde.com. “And he lost almost all the money he had invested,” she said.
Christine Lagarde’s son had probably invested in cryptocurrencies in 2022, as Christine Lagarde declared during an interview. It is therefore logical that the latter experienced the turbulence in the cryptocurrency market, with the fall of Terra Luna and FTX, which dealt a heavy blow to the market in 2023.
The cryptocurrency market, volatile since its creation, has been going through a bearish phase since its last historic rise in November 2021. For several weeks, indicators have suggested that bitcoin has returned to an upward phase, with the queen of cryptocurrencies surpassing the $37,000.
“I was right”
Christine Lagarde admitted that her son had not lost a lot of money, but that it still represented 60% of his initial investment. “When I discussed it with him, he reluctantly accepted that I was right,” she slipped.
Christine Lagarde’s statement comes a month following the ECB launched its experimental phase of a digital euro. “We must prepare our currency for the future,” declared the boss of the ECB. This preparatory phase, which began at the beginning of November, will last two years.
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