President Trump posted this Explanation on what BITCOIN is…

• In the video, Peter Van Valkenburgh, Director of Research at Coin Center, delivers an explanation of Bitcoin during a U.S. Senate hearing.

• He describes Bitcoin as the world's first cryptocurrency, powered by the first public blockchain network, which enables anyone to send and receive value globally using just a computer and internet connection—without relying on trusted middlemen like BANKS.

• He emphasizes its revolutionary nature as the first public digital payments infrastructure, comparable to the internet for information but for money.

• Unlike traditional systems that depend on PRIVATE banks to update ledgers, Bitcoin uses a PUBLIC blockchain where anyone can create an address for free and transfer funds, regardless of background or credit status.

• Van Valkenburgh argues that Bitcoin's decentralized design addresses flaws in centralized systems, which have single points of failure leading to massive breaches, such as the Equifax hack exposing 143 million Americans' data, SWIFT network frauds totaling hundreds of millions (including North Korean involvement), a $1.8 billion robbery at Punjab National Bank, and a 2016 botnet attack disrupting major websites. He extends this to the Internet of Things, citing hacks of pacemakers, baby monitors, and vehicles.

• He advocates for building more public infrastructure like blockchains to reduce reliance on powerful corporate intermediaries, foster competition, and prevent failures.

• Bitcoin, he says, is a computer science breakthrough akin to the internet, promoting freedom, prosperity, and human flourishing, with potential to replace other centralized chokepoints.