Trump Sells Bitcoin-Themed Sneakers
On the evening of July 31, Beijing time, U.S. Republican presidential candidate Donald Trump announced a series of Bitcoin-themed sneakers on his social media platform, Truth Social.
The news quickly spread, and the most popular high-top Bitcoin orange-themed sneakers, originally priced at $499, sold out within three hours. Subsequently, resellers appeared on eBay, with over ten listings, pushing prices up to $2,500.
This is not the first time Trump has engaged in merchandise sales, but after his speech at the Bitcoin 2024 conference, he has identified cryptocurrency and crypto users as a key focus for garnering votes.
On the evening of July 31, Trump referred to the sneakers as limited edition on Truth Social, stating that each pair is numbered and can now be purchased with Bitcoin or other preferred cryptocurrencies.
The website shows that there are 1,000 pairs in the sneaker series, with the orange high-top series priced at $499, while the orange low-tops and black high-tops are priced at $299 each.
The announcement quickly attracted numerous buyers, with 1,000 pairs of the Bitcoin orange-themed high-top sneakers selling out in just three hours. Currently, on the shopping site eBay, resellers have marked up the price to $2,500, with the lowest listing at $700. There are 13 listings in total, and one seller humorously set the price at $69,999.
It is worth noting that although most listings on eBay promise that once the seller receives the sneakers, they will ship them to the buyers, expected between September and November, many sellers appear to have high buyer ratings. However, more than one seller has been accused of being a “scam” in the feedback section. It remains unclear whether these potential transactions comply with legal standards.
Currently, the orange low-tops and black high-tops are still available for pre-sale on the official website, priced at $299 each.
After the Bitcoin 2024 conference, Trump has adopted the slogan “Crypto President.”
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 limited edition pairs of the orange high-tops will be randomly signed by Trump, giving sneaker enthusiasts a 1 in 200 chance of receiving a signed pair, aimed at further attracting users and showcasing the collectible value of these 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 on stage, which he named the “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 huge success,” Trump said during his speech.
The golden high-top sneakers feature elements of the American flag and the capital letter “T,” representing Trump, selling online for $399, with a limited release of 1,000 pairs. At the time, a man at the Philadelphia sneaker show auctioned off a pair of “Trump Gold Boots” for $9,000.
Currently, Trump’s website lists over a dozen other styles of footwear, including golf shoes, low-top sneakers, slippers, as well as two fragrances and a cooler, all accepting Bitcoin and credit card payments. According to the website, proceeds from the shoe sales will not be considered political donations.
On July 28, at the Bitcoin 2024 conference, Trump asserted that the market value of Bitcoin would exceed that of gold; upon election, he would remove Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC); and he would maintain government-held Bitcoin as a strategic reserve, among other statements. Through his remarks, Trump aims to attract further support from the crypto community.
For instance, on July 31, renowned investor and serial entrepreneur Gary Cardone announced that he had donated 12.8 BTC to Trump’s campaign, valued at approximately $852,000. According to Trump’s campaign aide David Bailey, Trump’s campaign team 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 dropped by 4.46% over 24 hours, while the trading volume surged by 145.59%. The second series saw a floor price decline of 3.74% with a trading volume increase of 136.71%. 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 noted that his previous NFT collectibles were “very successful,” selling out in a day: “Completely sold out: 45,000 cards. I’ve launched three times, and I will do it again because people want me to do it again”
