We cannot directly blame the president here, we can only blame the ones who are seated right beside in his administration that don't help him understand the whole situation but instead share their own opinion. Him not being knowledgeable on what Bitcoin is will instantly make him clueless on what cryptocurrencies are even if it's for a good cause. The people who are given the wrong power would only act with his/her opinion but won't look at it further, this is one of the bad traits of unworthy persons with power.