“I Don’t Know What Bitcoin Is,” Says President of Brazil

In today’s day and age, you’d assume that every president, prime minister, or any kind of leader of a country would know what Bitcoin (BTC) is. However, this just isn’t the case. The president of Brazil, Jair Bolsonaro, reportedly said he doesn’t know what Bitcoin is during an interview with Ratinho’s SBT show on June 4.

“I do not know what Bitcoin is.”

As reported by Cointelegraph, Bolsonaro’s comments on Bitcoin came after he endorsed the suspension of a cryptocurrency project that promoted a cryptocurrency for indigenous people to use.

The now-terminated project was worth 44.9 million Brazilian reals ($11.5 million) and was started by the National Indian Foundation (FUNAI) and the Federal Fluminense University (UFF).

According to the report, this project’s intention was to teach indigenous people about cryptocurrency and get them to use it.

However, Bolsonaro thought poorly of such a project and put an end to it after previously suspending its operations in early January. According to Bolsonaro, the indigenous crypto project issued a contract improperly and lacked detailed information and analysis of the project.

This is altogether in keeping with Bolsonaro’s persona as an ignorant reactionary, who does not have the best interests of his country at heart. It can only be hoped that soon Brazil will have a leader who cares about progress, and in distributing it to those who need it most.



  • Vitor Garcia de Souza
    Posted June 7, 2019 12:37 am 0Likes

    As a Brazilian citizen I am aware of the events concerning my country, I can say that the article above does not observe the reality of what the president has actually said about his knowledge about the crypto coins.

    In an ironic tone he mentioned about the embezzlement of public funds that corrupt politicians did in order to create a alticoin that would have no expression on the market.

    The president of Brazil defined Joaquim Levy to command the BNDS (Brazilian Investment Bank), to invest, to support startups and projects of criptomoedas.

    We Brazilians are accustomed to the fallacies and manipulations that the media produces using parts of speech that are out of context within interviews and speeches of our authorities.

    By the way, good work with this article.

  • David Russell
    Posted June 7, 2019 4:14 am 0Likes

    coming from a president who denies climate change….no surprises there then

  • Ivan
    Posted June 7, 2019 7:42 pm 0Likes

    I am Brazilian i can only disagree with your last paragraph entirely. He is indeed changing the tide here in Brazil. We were prone to become a Socialist country by the hands of a 12 year straight govern that wasted a huge amount of money in social programs. He is passionate to this land and totally aims for progress as it is reaching to close deals with leading countries. Brazil was broken by past governs and he has a huge duty to try and fix it. Unffortunately Crypto wont be a priority. At least they wont ban it here.

    Please don´t spread things that aren´t true because the vast majority of the media here is opposite to the gorven.

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