President of Brazil: I have No Idea What Bitcoin is!

“I do not know what bitcoin is”

Jair Bolsonaro, the president of Brazil expressed his views during an interview with Ratinho’s SBT show on 4 June.

Bolsonaro also terminated the project that promotes the creation and adoption of cryptocurrency for local people, according to Cointelegraph Brazil on 4 June. The estimated worth of the project is 44.9 million Brazilian reals ($11.5 million), which is launched by the National Indian Foundation (FUNAI) and the Federal Fluminense University (UFF).

The Brazilian government had suspended the local crypto projects in January and cited various reasons including improper issuance of contracts and lack of technical analysis such as a detailed project description, as reported by the Brazilian news outlet O Globo.

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