Brazil: I Do Not Know What Bitcoin is, Claims President Jair Bolsonaro, Days After He Would Not Know Economics


The president of Brazil, Jair Bolsonaro, explained at an interview using Ratinho’s SBT series on June 4, 2019, he does not understand what Bitcoin is, even regardless of the hype which Bitcoin is inducing in the nation, aphenomenon that’s been rising over the last couple of decades.

Rio de Janeiro, Brazil
Rio de Janeiro, Brazil

The president’s announcements came as he explained why he shut down a job of $11.5 million to market a crypto money for native communities.

Jair Bolsonaro clarified the National Indian Foundation (FUNAI) and the Federal Fluminense University (UFF),”desired to educate the Indian to utilize bitcoin,” he considers to be incorrect. When requested by a member of the people if he knew what Bitcoin had been, the president reacted:

“I don’t understand what Bitcoin is.”

Jair Bolsonaro is popularly famous for his denigrating statements, which have made him highly popular in Brazil’s extreme right-wing businesses.

A Cryptocurrency for Native American? No Way!

The decision to suspend FUNAI’s job was predictable. The Brazilian president once told Correio Braziliense it was a shame the Brazilian Indians hadn’t been exterminated since they had been at the USA:

“it is a shame the Brazilian cavalry has never been as effective as the Americans, who exterminated the Indians.

In more recent statements, Bolsonaro revealed an anti-indigenous stance, describing that after from the presidency he’d be in control of undermining FUNAI’s presence, affecting its attempts to promote the usage of cryptocurrencies amongs brazilian indigenous tribes:

“When I am chosen, I will serve a blow to FUNAI; a blow to the throat. There is no other way. It is not helpful anymore”

The project encouraged by FUNAI and the UFF was suspended as a result of potential legal issues. The authorities believed that the absence of an authorized bidding procedure undermined the legality of this contract, for that it had been considered improper.

If Not Knowing About Bitcoin Seems Bad to get a President, What About Not Knowing About Economics?

This isn’t the first time that Bolsonaro has confessed his ignorance. Lately, while announcing the recession at Brazil’s GDP, he explained into the crowd he wasn’t to blame for this tragedy: The explanation? He warned people he didn’t know mathematics:

“I said I did not know economics. The person who knew it drowned Brazil. I hope 100percent from the market of Paulo Guedes”.

So much neither FUNAI nor the UFF has supplied any remarks concerning the prospect of boosting a crypto minus the government’s approval.

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