Crypto assets are ‘worth nothing,’ says ECB’s Christine Lagarde

European Central Bank President Christine Lagarde is making no bones about her feelings toward the value of crypto assets — namely, there isn’t any.

“I have said all along the crypto assets are highly speculative, very risky assets,” Lagarde told Dutch television show College Tour in an interview to be aired on Sunday. “My very humble assessment is that it is worth nothing. It is based on nothing, there is no underlying assets to act as an anchor of safety.”

The comments come as the crypto market, more broadly, is taking a beating. Earlier this month, Bitcoin lost 20 percent of its value in a single week.

Lagarde revealed she had never invested in crypto assets, but her son had — with little luck.

A digital euro, however, would be an entirely different ball game, Lagarde explained.

“The day when we have the central bank digital currency, any digital euro, I will guarantee it,” she said. “So the central bank will be behind it. I think that is vastly different from any of those things.”

Photo – European Central Bank (ECB) President Christine Lagarde. EPA-EFE/ARMANDO BABANI

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