President Donald Trump on Friday ridiculed former New York City mayor Michael Bloomberg - who sources say, is strongly considering entering the race for the 2020 Democratic presidential nomination.

(SOUNDBITE)(English) U.S. PRESIDENT DONALD TRUMP, SAYING:

“So I’ve known Michael Bloomberg for a long time. You go back early on, he said a lot of great things about Trump. But I know Michael. He became just a nothing. He was really a nothing. He's not going to do well but I think he's going to hurt Biden, actually. But he doesn't have the magic to do well. Little Michael will fail. He'll spend a lot of money. He's got some really big issues. He's got some personal problems and he's got a lot of other problems. But I know Michael Bloomberg fairly well - not too well, fairly well, well enough. He will not do very well. And if he did I'd be happy. There is nobody I’d rather run against than Lil’ Michael - that I can tell you."

77-year-old Bloomberg is expected to file paperwork this week to run in the primary in Alabama.

Sources say THAT would keep the billionaire businessman's options open for a possible White House bid.