Trump Attracts Crypto Users Again: Bitcoin-Themed Sneakers Resell at 5x Price
On July 31, U.S. Republican presidential candidate Donald Trump announced several series of Bitcoin-themed sneakers on his social media site, Truth Social.
The most popular high-top Bitcoin orange sneakers, priced at $499, sold out within three hours. Scalpers quickly listed them on eBay, with over ten listings reaching up to $2,500.
This isn’t Trump’s first venture into sneaker sales, but following his speech at the Bitcoin 2024 conference, he has focused on crypto and its users to gain support.
Trump Sells Bitcoin-Themed Sneakers, Scalpers Raise Price to $2,500
On the evening of July 31, Trump revealed on Truth Social that the sneakers were limited edition, each with a serial number, and could be purchased with Bitcoin or the user’s preferred cryptocurrency. The website (https://gettrumpsneakers.com/) shows that each series has 1,000 pairs, with the high-top orange sneakers priced at $499 and the low-top orange and high-top black sneakers at $299 each.
The announcement attracted many buyers, and the 1,000 pairs of high-top Bitcoin orange sneakers sold out within three hours. On eBay, scalpers are now selling these shoes for as much as $2,500, with the lowest listing at $700. Thirteen listings are currently available, with one listed humorously at $69,999.
Most eBay listings promise to ship the shoes once the sellers receive them, expected between September and November. Although most sellers have high buyer ratings, some have been accused of being scams in buyer feedback. The legality of these potential transactions remains unclear.
The low-top orange and high-top black versions are still available for pre-order on the official website, each priced at $299.
Bitcoin 2024 Conference: Trump Promotes Himself as the “Crypto President”
Bitcoin-themed sneakers have become a unique marketing tool for Trump. The sneakers feature the slogan “Trump, Crypto President,” aligning with his conference speech. Additionally, the website states that five pairs of limited edition high-top orange sneakers will be randomly signed by Trump, giving enthusiasts a 1/200 chance to receive a signed pair, further highlighting their collectible value.
This isn’t Trump’s first foray into product promotion. On February 17, Trump showcased a pair of gold “Trump” sneakers, named “NEVER SURRENDER HIGH-TOP SNEAKER,” during a speech at a sneaker expo in Philadelphia. He claimed the idea had been in the works for 12-13 years and anticipated its success.
The gold high-top sneakers, featuring the American flag and Trump’s initial “T,” were sold online for $399, with 1,000 pairs released. At the expo, one man bid $9,000 for a pair of “Trump Gold Sneakers.”
Trump’s website now offers various footwear, including golf shoes, low-top sneakers, slippers, two perfumes, and a cooler, all available for purchase with Bitcoin or credit cards. According to the website, sales revenue will not be used as political donations.
On July 28, at the Bitcoin 2024 conference, Trump stated that Bitcoin’s market value would surpass gold, that he would remove SEC Chairman Gary Gensler if elected, and that he would keep government-held Bitcoin as a strategic reserve. These remarks aim to garner further support from the crypto community.
For example, on July 31, prominent investor and serial entrepreneur Gary Cardone announced a donation of 12.8 BTC, worth approximately $852,000, to the Trump administration. According to Trump’s campaign aide David Bailey, the campaign raised $21 million during the 2024 Bitcoin conference.
In addition to the Bitcoin-themed sneakers, Trump plans to release a fourth series of NFTs. As of August 1, the floor price of the first series of Trump Digital Trading Cards fell by 4.46% in 24 hours, but trading volume increased by 145.59%. The second series’ floor price dropped by 3.74%, with trading volume up by 136.71%. The third series (MugShot Edition) saw a 2.95% decrease in floor price.
On July 17, according to a Bloomberg Businessweek interview, Trump plans to launch a fourth NFT series. In the interview, Trump stated that his previous NFT collections were “very successful,” selling out in a day: “All sold out: 45,000 cards. I’ve launched three times, and I will do it again because people want me to.”