Christine Lagarde Was Asked At Bitcoin Highs How Much She Thought It Was Worth, She Held Firm On 'Nothing' — BTC Has Fallen 32% Since Then
News Summary
European Central Bank President Christine Lagarde reiterated her long-standing skepticism towards Bitcoin on October 5, 2025, stating it is "worth nothing." This stance was maintained despite Bitcoin's price having surged from approximately $35,000 in May 2022, when she made similar remarks, to $125,000 at the time of her latest comments, a 257% increase. She firmly categorized crypto assets as "highly speculative, very risky assets. Following Lagarde's recent statements, Bitcoin's value has significantly declined, tumbling 32% to below $85,000, effectively wiping out all its gains for 2025. The European Central Bank (ECB) has also explicitly ruled out considering Bitcoin for central bank reserves, citing its incompatibility with the ECB's standards for safety, liquidity, and regulatory compliance. Instead, the ECB is actively focusing on the launch of a digital euro, an online payment wallet directly backed by the central bank, with a target rollout by mid-2029.
Background
Christine Lagarde, as the President of the European Central Bank (ECB) and former Managing Director of the International Monetary Fund (IMF), holds significant influence in global finance, with her views on monetary policy and financial stability closely watched. The ECB serves as the central bank for the Eurozone, responsible for maintaining price stability and managing the euro. Cryptocurrency markets are known for their extreme volatility, often driven by regulatory pronouncements, macroeconomic trends, and speculative trading. Central banks globally, including the ECB, are actively exploring or developing their own Central Bank Digital Currencies (CBDCs) to adapt to the rise of digital payments and maintain control over monetary systems, contrasting sharply with decentralized cryptocurrencies.
In-Depth AI Insights
What are the true motivations behind Lagarde's steadfast