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Christine Lagarde tackles Bitcoin and cryptocurrencies, a “speculative libertarian hype”


The digital euro, yes, but Bitcoin, no – Just yesterday, the President of the European Central Bank (ECB), Christine Lagardeexplained to us that she preferred to let inflation run rather than helping European households survive rising prices. Today, the central banker tells us that Bitcoin is not not a currencyeven though this has been the case for more than a year salvador.

Bitcoin has entered the court of value transfers, laments Christine Lagarde

The president of the European Central Bank participated this September 27, 2022 in the “ Conference on the opportunities and challenges of the tokenization of finance organized by the Banque de France. As one might expect, Christine Lagarde once again employed go down in flame bitcoin and cryptocurrencies.

Like us reports Grégory, present on the spot, Ms. Lagarde recognizes all the same the evidence success cryptos, which can no longer be hidden. Crypto-assets have gone from what she refers to as a “anonymous libertarian hype” to real means of payment increasingly accepted everywhere (and by major players such as Visa, PayPal, Mastercard, etc.).

But hardly has she finished this kind of micro-recognition of the prominence cryptocurrencies and their adoption, that it strikes a violent blow with the disastrous example of Terra (LUNA) and its stablecoin UST. A sentence rather in favor of cryptos, it was already too much.

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A world without cash or Bitcoin: a dream for bankers, a nightmare for citizens

Christine Lagarde goes up to deny the term cryptochange, and only wants to consider them as cryptoassets. While specifying that they are “purely speculative”. What is the one and only digital currency that finds favor in the eyes of the President of the ECB? L’digital euro of course, since it will have full control of it (as with any central bank digital currency, or MNBC).

especially once got rid of cash. Mrs. Lagarde is indeed thinking in the place of Europeans, who, according to her, would like “less cash” (Is that so ?). And if lovers of high yields of the crypto sector hoped to find some with the ECB’s e-euro, they can already tell them goodbye :

“There will need to be limitations to prevent the digital euro from eventually becoming an investment rather than just a means of payment. Our infrastructure will have to be much more digital than today. Our project [d’e-euro] progress. »

Christine Lagarde, President of the ECB

The future that central bankers hold for Bitcoin and cryptocurrencies is very dark. And this threat approximate under their impulse. At the same conference, the Governor of the Banque de France, Francois Villeroy de Galhaupushed with all his might so that the problem MiCA Law to be adopted by March 2023 in the European Union.

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