European Central Bank Governor Says Crypto Assets Are ‘Valueless’

How much is a crypto asset worth? It depends on the asset and what is being requested. Coinbase puts Bitcoin at $29,900. CoinMarketCap Says Ethereum Is Worth $2,003 Meanwhile, European Central Bank President Christine Lagarde is known to believe that cryptocurrency assets have no value.

politico report(Opens in a new window) Lagarde, who headed the International Monetary Fund (IMF) from 2011 to 2019 and became president of the European Central Bank (ECB) that same year, discusses crypto-asset issues in an episode of the Dutch show called “University Tour”, which will air on the latest night. I did. May 22

“Cryptocurrency assets are very speculative and very risky assets,” Lagarde said in an interview. “My very humble assessment is that it has no value. It is based on nothing, and has no underlying assets to act as anchors of safety.”

Lagarde’s comments arrived at a particularly odd time for the crypto market. With the rise of Non-Fungible Tokens (NFTs), decentralized finance (DeFi) platforms, and the growing acceptance of cryptocurrencies in traditional businesses, crypto assets are becoming more popular than ever.

At the same time, the value of many cryptocurrencies has recently plummeted, with Bitcoin plummeting from $69,000 per coin in November 2021 to around $29,000 at the time of writing. The crypto ecosystem and its participants have become increasingly attractive targets for hackers.

In an interview with “College Tour,” Lagarde said he’s more interested in central bank digital currencies, digital versions of traditional currencies such as the US dollar, euro and yen, rather than the unregulated crypto assets that have become popular in the past few years.

According to Politico’s interview report of an interview that was not aired at the time of writing, she said “the day there is a central bank digital currency, I will guarantee any digital euro.” “So the central bank will be behind it. I think it’s very different from those things.”

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