The president of a European bank just said that bitcoin is worth nothing, what are your thoughts on this?

President of the European Central Bank Christine Lagarde left no bones unturned with her opinions regarding the value of crypto assets: there is none.

"I've always emphasized that crypto assets are very speculative, very dangerous," Lagarde said in an interview on Sunday on the Dutch television show College Tour. "In my honest opinion, it is completely worthless." It is founded on nothing, and there are no underlying assets to provide as a safety net."

The remarks come when the cryptocurrency industry as a whole is suffering. Bitcoin dropped 20% of its value in a single week earlier this month.

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Lagarde urged politicians worldwide to establish measures to safeguard novice investors who make large investments in digital assets. This year, cryptocurrencies have fallen in value across the board, with bitcoin, the most valuable, losing more than half of its value from its all-time highs in November.

"I'm concerned about individuals who feel it will be a reward, who have no grasp of the dangers, who will lose everything, and who will be extremely disappointed," Lagarde added.

Cryptocurrency, according to Lagarde, should be regulated to safeguard naive investors. Her remarks come when the crypto economy is under increased regulatory scrutiny.