Christine Lagarde announced that she will step down as President of the European Central Bank on February 7, 2027, about eight months before the end of her scheduled term. Since taking office in November 2019, she became one of the leading critics of Bitcoin and cryptocurrencies among central bankers. She described Bitcoin as a “highly speculative asset” in 2021 and later called crypto assets “worth nothing” and “based on nothing” in 2022, while calling for coordinated international regulation. Lagarde also opposed including Bitcoin in central bank reserves, even after Czech National Bank Governor Ales Michl proposed studying the possibility in January 2025. She nevertheless recognized the innovative nature of distributed ledger technology while maintaining that the underlying crypto assets were speculative and had no intrinsic value.
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