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European Central Bank President Christine Lagarde has been a long-time critic of Bitcoin (CRYPTO: BTC), and reaffirmed her skepticism recently despite the asset’s growth over the years.
Appearing on the College Leaders in Finance podcast on Oct. 5, Lagarde was reminded of the remarks she made about Bitcoin three years ago.
“I would not put my finger in there. I’ve said all along that crypto assets are highly speculative, very risky assets,” Lagarde said in May 2022. “My very humble assessment is that it is worth nothing.”
Recalling her words, Lagarde said she would “repeat exactly the same thing.”
When Lagarde made those remarks, Bitcoin was worth around $35,000. At the time of the interview, it had grown to $125,000, marking a 257% increase. But the parabolic growth was not enough to change her mind.
“It may well be that it prospers. It may well be that it lasts forever, but it may well be that it collapses as well. It’s a risk,” said the former Managing Director of the International Monetary Fund.
Lagarde said she ain’t giving any investment advice and that, at the end of the day, people are free to invest wherever they choose
See Also: Michael Saylor Says Strategy Will Continue To Create Shareholder Value As Long As Bitcoin Grows By This Much Annually
It’s worth noting that while Bitcoin was thriving when Lagarde made these comments, its fortunes have shifted dramatically over the past six weeks.
Bitcoin has tumbled below $85,000, down 32% since the day Lagarde made the remarks. The apex cryptocurrency has wiped out all of its 2025 gains in the ongoing slump.
Lagarde clarified earlier this year that Bitcoin won’t be considered for central bank reserves, citing incompatibility with the ECB’s standards for “safety, liquidity and regulatory compliance.”
Despite increasing global discussions on Bitcoin’s role in national treasuries, the ECB remains steadfast in its position.
Instead, the organization has shifted its focus to launching the digital euro — an online payment wallet directly backed by the European Central Bank. ECB board member Piero Cipollone said in September that the bank aims to roll it out by mid-2029.
Price Action: At the time of writing, BTC was exchanging hands at $85,486.98, down 6.78% in the last 24 hours, according to data from Benzinga Pro.
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Photo Courtesy: Alexandros Michailidis on Shutterstock.com
Posted In: $BTC
