ECB President Lagarde: ‘Bitcoin has no intrinsic value’

Christine Lagarde, president of the European Central Bank, once again drew the ire of social media when she declared earlier this week that Bitcoin has no intrinsic value.

Commentators on X (formerly Twitter) are, of course, forgetting that Lagarde has a very long history with crypto.

Immediate “no”.

0 second of reflexion.$BTC still has no intrinsic nor underlying value according to @Lagarde, president of the European Central Bank.

The rest of the world laughs at Europe because of her. pic.twitter.com/Z1WioPxzFm

— marin (@mar1dev) October 7, 2025

Every few years, Christine Lagarde is asked a question about crypto. And each time, she incurs the internet’s ire with her answers.

60%

That’s because she has a rather negative opinion about crypto and Bitcoin and that’s not new.

Ladies and gents, we have a new drop at @degen_swag - Thank you, Christine Lagarde for the free marketing campaign.

Bitcoin - No intrinsic value since 2009 pic.twitter.com/B0WS7Y5MW5

— Robin Nakamoto (@RobinNakamoto) October 7, 2025

In 2023, she was asked the same question again during a Q&A session in Frankfurt, the financial center of continental Europe, for about 200 students.

There, she finally admitted the reason why she isn’t a fan of crypto. One of her sons (she has two) lost 60% of his investment.

“He ignored me completely, which is his prerogative,” the ECB chief said, “and he lost almost all the money he had invested. It wasn’t much, but he lost about 60% of it. When I spoke to him about it again afterward, he reluctantly accepted that I was right.”

“Therefore, as you all know, I have a very low opinion of cryptocurrencies,” Lagarde said at the time.

Even now that Bitcoin is trading at over $120,000 per coin, she hasn’t changed her mind.