Trump Launches Bitcoin-Themed Sneakers
On the evening of July 31, U.S. Republican presidential candidate Donald Trump announced a series of Bitcoin-themed sneakers on his social media platform, Truth Social.
Upon the announcement, the most popular high-top Bitcoin orange-themed sneakers, originally priced at $499, sold out within three hours. Subsequently, scalpers appeared on the shopping website eBay, listing over ten offers, with prices skyrocketing to $2,500.
This is not the first time Trump has engaged in merchandise sales, but after speaking at the Bitcoin 2024 conference, cryptocurrency and its users have become a focal point for his voter outreach efforts.
Trump’s Bitcoin-Themed Sneakers, Scalpers Reselling for $2,500
On the evening of July 31, Trump referred to the sneakers as limited edition, with each pair numbered. Payments can be made in Bitcoin or any preferred cryptocurrency.
The website indicates that there are 1,000 pairs in a single series, with the orange high-top series priced at $499, while the orange low-tops and black high-tops are both priced at $299.
Trump Attracts Cryptocurrency Users with Sneakers, Scalpers Resell at 5x Price After Sellout
The news quickly attracted many buyers, leading to the complete sellout of 1,000 pairs of orange Bitcoin-themed high-top sneakers within three hours. Currently, on eBay, scalpers are selling these shoes for as much as $2,500, with a minimum price of $700 across 13 listings. Some have humorously set prices as high as $69,999.
It is noteworthy that while most listings on eBay promise to ship the sneakers to buyers once received by the seller, expected delivery is anticipated between September and November. Most sellers appear to have high buyer ratings, but there have been accusations of “scams” in the buyer feedback section for more than one seller. It remains unclear whether these potential transactions are legally compliant.
At present, the orange low-top and black high-top versions are still available for pre-sale on the official website, priced at $299 each.
After the Bitcoin 2024 Conference, Trump Promotes Himself as the “Crypto President”
Now, the Bitcoin-themed sneakers have become a unique marketing strategy for Trump. Notably, these sneakers feature the slogan “Trump, Crypto President,” aligning with his speech at the conference. Additionally, the official website states that five pairs of the orange high-tops will be randomly signed by Trump, giving collectors a 1 in 200 chance to receive a signed pair, further enticing users and showcasing the collectible value of the shoes.
This is not Trump’s first foray into merchandise. On February 17 of this year, he spoke at a sneaker exhibition at the Philadelphia Convention Center, showcasing a pair of golden “Trump” sneakers from the podium, which he dubbed the “NEVER SURRENDER HIGH-TOP SNEAKER.” “This is something I’ve been talking about for 12 or 13 years, and I believe it will be a tremendous success,” Trump stated during his speech.
The golden high-top sneakers are adorned with American flag elements and the capital letter “T,” representing Trump, selling online for $399, with a limited release of 1,000 pairs. At that event, a man spent $9,000 at auction for a pair of “Trump’s Golden Boots.”
Trump Attracts Cryptocurrency Users with Sneakers, Scalpers Resell at 5x Price After Sellout
Currently, Trump’s website lists over a dozen other shoe styles, including golf shoes, low-tops, sandals, as well as two perfumes and a cooler, all of which accept Bitcoin and credit card payments. According to the website, the proceeds from these shoe sales will not be considered political donations.
On July 28, at the Bitcoin 2024 conference, Trump stated that the market value of Bitcoin would surpass that of gold; if elected, he would remove Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC); and he would retain government-held Bitcoin as a strategic reserve. Through these remarks, Trump aims to garner further support within the cryptocurrency community.
For instance, on July 31, renowned investor and serial entrepreneur Gary Cardone announced that he had donated 12.8 BTC, valued at approximately $852,000, to Trump’s campaign. According to Trump’s campaign aide David Bailey, the Trump campaign raised $21 million during the 2024 Bitcoin conference.
In addition to launching Bitcoin-themed sneakers, Trump is also set to release a fourth series of NFTs in the future. As of 1 PM on August 1, the floor price of Trump’s first series of digital trading cards had dropped by 4.46% within 24 hours, while trading volume surged by 145.59%. The second series saw a floor price decline of 3.74% and a 136.71% increase in trading volume. The third series (MugShot Edition) experienced a 2.95% drop in floor price.
On July 17, according to an interview published by Bloomberg Businessweek, Trump plans to launch a fourth NFT series. In the interview, Trump expressed that his previously launched NFT collectibles were “very successful,” selling out within a day: “Sold out: 45,000 cards. I launched it three times, and I will launch it again because people want me to do it again”