Son of the biggest bitcoin critic trades in cryptocurrencies

European Central Bank President Christine Lagarde, who has previously criticized the cryptocurrency market, admitted that her son invested in crypto assets.

On the Dutch TV program College Tour, the banker was asked if she owned digital assets. Christine Lagarde answered «no» because, according to her, she wants to follow her beliefs in practice.

However, the ECB head admitted that her son did not listen to her advice and invested in cryptocurrencies, and therefore she is closely monitoring this.

Lagarde is a fierce critic of bitcoin and cryptocurrencies. Just last week, she stated that such assets are «worthless».

«Cryptocurrencies are not based on anything. There is no underlying asset that would serve as a security anchor. I have always said that crypto assets are highly speculative and risky assets,» Lagarde added.

Earlier, the economist expressed serious doubts that central banks would use bitcoin. In addition, she stated that this cryptocurrency is a «highly speculative asset» involved in money laundering.

However, Lagarde is very enthusiastic about centralized cryptocurrencies, namely central bank digital currencies (CBDCs). CBDCs are a digital form of fiat money (such as the US dollar or the euro) that is at various stages of research and issuance in many countries around the world.

Earlier, Lagarde expressed confidence that the digital euro could benefit the trading bloc. EU officials also said they would consider a law on the creation of a digital euro by early 2023.