Jair Bolsonaro, Brazil’s Presidet, has rejected publicly against bitcoin.

In an interview aired on national television, the Brazilian head of state talked about cryptocurrency being utilized to bank native people in Brazil. Throughout a conversation fixated the obstacles of his new presidency, Bolsonaro talked about tasks created by his precursor’s administration. Among the initiatives was an $11.5 million task that aimed to create an “indigenous cryptocurrency”.

“We are cutting expenses. We were about to use 40 million Reales to teach natives to use bitcoin,” he claimed. In fact, Bolsonaro said, he does not even recognize what bitcoin is.

“I don’t know,” he said. “Is it a coin?”

The National Indian Foundation (Funai) and the Fluminense Federal University (UFF) created the task in order assistance financial institution Brazil’s native people. The nation’s Ministry of Human Rights, Household and Female vetoed it in January.

The closure of the cryptocurrency task was among the initial activities taken by Bolsonaro’s administration. This is the first time the leader commented regarding bitcoin in public although Brazil is among the most energetic countries in Latin America’s blockchain ball.

bitcoin
Bitcoin (BTC) $ 9,092.27
ethereum
Ethereum (ETH) $ 226.77
tether
Tether (USDT) $ 1.00
ripple
XRP (XRP) $ 0.176654
bitcoin-cash
Bitcoin Cash (BCH) $ 222.12
cardano
Cardano (ADA) $ 0.099713
bitcoin-cash-sv
Bitcoin SV (BSV) $ 155.87
litecoin
Litecoin (LTC) $ 41.36
eos
EOS (EOS) $ 2.43
binancecoin
Binance Coin (BNB) $ 15.38
crypto-com-chain
Crypto.com Coin (CRO) $ 0.125208
chainlink
ChainLink (LINK) $ 4.81
tezos
Tezos (XTZ) $ 2.30
okb
OKB (OKB) $ 4.96
stellar
Stellar (XLM) $ 0.067943
leo-token
LEO Token (LEO) $ 1.24
monero
Monero (XMR) $ 63.12
tron
TRON (TRX) $ 0.016811
usd-coin
USD Coin (USDC) $ 1.00
huobi-token
Huobi Token (HT) $ 4.09
neo
NEO (NEO) $ 9.91
ethereum-classic
Ethereum Classic (ETC) $ 5.68
vechain
VeChain (VET) $ 0.010202
iota
IOTA (MIOTA) $ 0.227498
dash
Dash (DASH) $ 66.53
cdai
cDAI (CDAI) $ 0.020826
compound-governance-token
Compound (COMP) $ 174.01
cosmos
Cosmos (ATOM) $ 2.71
zcash
Zcash (ZEC) $ 51.47
compound-usd-coin
cUSDC (CUSDC) $ 0.021068
maker
Maker (MKR) $ 444.73
nem
NEM (XEM) $ 0.043189
basic-attention-token
Basic Attention Token (BAT) $ 0.246304
ontology
Ontology (ONT) $ 0.563452
kyber-network
Kyber Network (KNC) $ 1.87
dogecoin
Dogecoin (DOGE) $ 0.002309
ftx-token
FTX Token (FTT) $ 2.87
0x
0x (ZRX) $ 0.386143
digibyte
DigiByte (DGB) $ 0.020220
havven
Synthetix Network Token (SNX) $ 2.48
paxos-standard
Paxos Standard (PAX) $ 1.00
compound-ether
cETH (CETH) $ 4.53
theta-token
Theta Network (THETA) $ 0.216950
omisego
OMG Network (OMG) $ 1.43
augur
Augur (REP) $ 17.95
zilliqa
Zilliqa (ZIL) $ 0.017308
hedera-hashgraph
Hedera Hashgraph (HBAR) $ 0.039289
icon
ICON (ICX) $ 0.336717
ethlend
Aave (LEND) $ 0.140714
binance-usd
Binance USD (BUSD) $ 1.00