Trump Sells Bitcoin-themed Sneakers
On the evening of July 31, Beijing time, US Republican presidential candidate Trump unveiled a series of Bitcoin-themed sneakers on his social media platform, Truth Social.
As soon as the news was released, the most popular high-top Bitcoin-themed sneakers, originally priced at $499, sold out within three hours. Subsequently, scalpers appeared on the shopping website eBay, with more than ten listings, and the highest price reached $2,500.
This is not the first time Trump has promoted shoe sales, but after his speech at the Bitcoin 2024 conference, Trump regarded cryptocurrency and crypto users as a key focus in rallying support.
Trump Sells Bitcoin-themed Sneakers, Scalpers Raise Price to $2,500
On the evening of July 31, on Truth Social, Trump referred to the sneakers as limited editions, each pair numbered, and now available for purchase with Bitcoin or the user’s preferred cryptocurrency.
The website shows that there are 1,000 pairs of sneakers in the series, with the orange high-top series priced at $499, and the orange low-top and black high-top sneakers priced at $299 each.
Trump Attracts Crypto Users with Another Move, Bitcoin-themed Sneakers Resold at 5 Times the Original Price
The news quickly attracted many buyers, and the 1,000 pairs of high-top Bitcoin-themed sneakers sold out within three hours. Currently, scalpers on the eBay shopping website have already raised the price of these shoes to $2,500, with a lowest price of $700. There are a total of 13 listings, and some have set the price at $69,999 for mockery.
It is worth noting that although most of the listings on eBay promise to ship the shoes to the buyers once they are received by the sellers, it is expected to take place between September and November. Most sellers seem to have high buyer ratings, but more than one seller has been accused of fraud in the buyer feedback section. It is currently unclear whether these potential transactions comply with the law.
Currently, the orange low-top and black high-top versions are still available for pre-order on the official website, priced at $299 per pair.
After the Bitcoin 2024 conference, Trump Emphasizes the Slogan of “Crypto President”
Now, Bitcoin-themed sneakers have become a special marketing tool for Trump. It is worth noting that these sneakers are printed with the slogan “Trump, Crypto President,” which is consistent with Trump’s speech at the conference. In addition, the official website states that five pairs of limited edition orange high-top sneakers will be randomly signed by Trump, representing a 1/200 chance for Trump shoe enthusiasts to receive a signed pair. This is done to further attract users and demonstrate the collectible value of these shoes.
This is not Trump’s first time promoting products. As early as February 17 this year, Trump spoke at a sneaker exhibition held at the Pennsylvania Convention Center in Philadelphia, where he showcased a pair of gold “Trump” brand sneakers named “Never Surrender High-Top Sneaker.” “This is something I’ve been talking about for 12 or 13 years, and I think it will be a great success,” Trump said during his speech.
The gold high-top sneakers feature elements of the American flag and the capitalized letter “T” representing Trump and are sold online for $399. A limited edition of 1,000 pairs was released. At the Philadelphia shoe exhibition, a man spent $9,000 to auction and obtain a pair of “Trump Golden Boots.”
Trump Attracts Crypto Users with Another Move, Bitcoin-themed Sneakers Resold at 5 Times the Original Price
Currently, Trump’s website also lists more than a dozen other styles of footwear products, including golf shoes, low-top sneakers, slippers, as well as two perfumes and a cooler, all of which accept Bitcoin and credit card payments. According to the website, the sales revenue from these shoes will not be used as political donations.
On July 28, at the Bitcoin 2024 conference, Trump stated that the market value of Bitcoin would exceed that of gold and that if elected, he would remove Gary Gensler as the chairman of the US Securities and Exchange Commission (SEC). He also mentioned that he would retain strategically reserved Bitcoin pledged by the government. Through his speech, Trump is expected to attract further support from the crypto community.
For example, on July 31, well-known investor and serial entrepreneur Gary Cardone announced that he had donated 12.8 BTC, worth about $852,000, to the Trump administration. According to David Bailey, a Trump campaign assistant, the Trump campaign team raised $21 million during the 2024 Bitcoin conference.
In addition to releasing Bitcoin-themed sneakers, Trump will also release the fourth series of NFTs in the future. As of 1 p.m. on August 1, the floor price of Trump’s digital trading card first series fell by 4.46% in 24 hours, but the trading volume increased by 145.59%. The second series saw a 3.74% drop in floor price and a 136.71% increase in trading volume. The floor price of the third series (MugShot Edition) fell by 2.95%.
On July 17, according to an interview record published by Bloomberg Businessweek, Trump plans to launch the fourth NFT series. In the interview, Trump said that his previously released NFT collection was “very successful” and sold out within a day: “All sold out: 45,000 cards. I released it three times, and I will release it again because people want me to.”