--- title: "Trump Has Completely Flip Flopped on Crypto" description: "It shouldn't come as a surprise that former president Donald Trump has completely flip-flopped on cryptocurrencies." date: "2024-06-24" modified: "2024-06-24" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/trump-flip-flopped-crypto" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "bitcoin" - "bitcoin mining" - "cryptocurrencies" - "donald trump" - "the digest" --- # Trump Has Completely Flip Flopped on Crypto ![It shouldn't come as a surprise that former president Donald Trump has completely flip-flopped on cryptocurrencies.]() *\Image: Chip Somodevilla/Getty Images\* ## 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](). ## Taylor Swift Boat 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. **More on Trump:** *[Trump's "Truth Social" Stock Is Officially in Free Fall]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()