Yahoo Finance Trump Has Completely Flip Flopped on Crypto
180 Flip-Flop
It probably shouldn't come as a surprise that former president Donald Trump has completely flip-flopped on cryptocurrencies.
The presidential candidate has taken millions of dollars worth of Bitcoin in donations for his reelection bid and met with leading Bitcoin mining executives at his Mar-a-Lago residence earlier this month.
That's despite blasting Bitcoin just a few years ago, including during a 2021 Fox Business interview during which he called it a "scam."
"I think they should regulate them very, very high," he added nonsensically.
At the time, he called crypto out as a "disaster waiting to happen" and that he was "not a big fan."
Since then, Trump has done a complete one-eighty, with plenty of financial pressure — in large part fueled by the hundreds of millions of dollars he owes in fraud cases — undermining his ongoing campaign efforts.
Now that the crypto community, including the billionaire Winklevoss twins, is willing to throw him a bone in the form of Bitcoin donations, Trump is singing a dramatically different tune — and yet again highlighting a complete lack of conviction or consistency in political beliefs, like when he flipped from being in favor of abortion to stridently opposing it.
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Naturally, Trump is using his newfound love for cryptocurrencies as a way to take potshots at president Joe Biden.
"VOTE FOR TRUMP!" he wrote in a rambling post on his social media platform Truth Social earlier this month. "Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left."
"We want all the remaining Bitcoin to be MADE IN THE USA!!!" he added, inadvertently revealing his complete lack of knowledge on the matter.
It's far from the first time Trump has completely flip-flopped on a contentious issue. Case in point, the former president spent much of his presidential term railing against TikTok, accusing it of being an extension of the Chinese communist party and making a half-hearted and ultimately fruitless bid to ban the app.
Conveniently, as soon as Biden signed a TikTok ban into law in April, Trump changed his tune once again, coming out against a ban earlier this year.
Once again it's easy to follow the money, with billionaire hedge fund manager Jeff Yass, who has a huge stake in TikTok owner ByteDance, likely swaying his opinion on the matter. Trump has repeatedly met with potential Republican donors like Yass in a bid to finance his reelection campaign.
In short, the TV personality's latest one-eighty is as predictable as it is self-serving. Trump has often failed to stand behind his political convictions for long, and has largely and conveniently gone where the wind blows.
If supporting Bitcoin mining allows him to raise some much-needed funds, he's seemingly willing to abandon his original stance on the matter without so much as a second thought.
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