Christine Lagarde, President of the European Central Bank, in a recent interview bitcoin and cryptocurrency made quite clear on his stance on the value of his assets.
Speaking in an interview with the Dutch television show College Tour to air on Sunday, May 22, the ECB chairman continued his stance that crypto assets are highly speculative and very dangerous investments.
“In My View Cryptocurrencies Have No Value”
“I have said from the beginning that cryptocurrencies are highly speculative, very risky assets. My humble opinion is that it has no value. It is not based on anything, they have no fundamental assets to act as a security pillar.”
Meanwhile, finance ministers and central bank governors of the seven industrialized countries that make up the G7 group met in Germany on 19 and 20 May. The main topic of discussion was the rapid regulation of crypto assets following the recent Terra (LUNA) discussions that shocked the cryptocurrency market.
European Central Bank Prepares to Increase Interest Rates
Touching on the monetary policy issue, Lagarde once again expressed that the European Central Bank is ready to increase interest rates in July in order to combat the rapidly increasing inflation in the Eurozone.
Lagarde, on the other hand, appeared to be trying to understate the possibility of a fifty basis point increase, the more extreme alternative previously proposed by Dutch Central Bank Governor Klaas Knot.
“We’re going to take the path of stopping net bond purchases and raise interest rates sometime after that, which could be a few weeks,” Lagarde said.
About a 50 basis point increase, Lagarde added, “it’s not something I can tell you here at this point today.”
*Not investment advice.