Trump's latest move to attract crypto users sees Bitcoin-themed sneakers sell out, resold by scalpers at 5x price
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Trump's latest move to attract crypto users sees Bitcoin-themed sneakers sell out, resold by scalpers at 5x price
The most popular high-top Bitcoin orange-themed sneakers, priced at $499, sold out within 3 hours.
Navigating Web3 tides with focused insightsBy Weilin, PANews
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.
Shortly after the announcement, the most popular high-top orange Bitcoin-themed sneakers, originally priced at $499, sold out within three hours. Resellers then appeared on eBay, with over a dozen listings and prices speculated up to $2,500.
This isn't the first time Trump has promoted footwear, but following his speech at the Bitcoin 2024 conference, cryptocurrencies and crypto users have become one of his key focuses in courting voter support.
Trump Sells Bitcoin-Themed Sneakers, Scalpers List Them for Up to $2,500
On the evening of July 31, Trump described the sneakers as limited editions on Truth Social, each individually numbered, available for purchase using Bitcoin or any preferred cryptocurrency. The website (https://gettrumpsneakers.com/) shows that each sneaker series includes 1,000 pairs: the orange high-top version is priced at $499, while both the orange low-top and black high-top models are priced at $299.
The news quickly attracted many buyers, and all 1,000 pairs of the orange high-top Bitcoin-themed sneakers sold out within three hours. Currently on eBay, resellers are listing the sneakers for as much as $2,500, with minimum bids starting at $700. There are 13 active listings, and one seller even jokingly set the price at $69,999.
Notably, although most eBay listings promise delivery once the seller receives the shoes—expected between September and November—while many sellers appear to have strong buyer ratings, several have been accused of being "scams" in buyer feedback sections. It remains unclear whether these potential transactions comply with legal standards.
Currently, the orange low-top and black high-top versions remain available for pre-order on the official website at $299 per pair.
After Bitcoin 2024 Conference, Trump Embraces "Crypto President" Slogan
Now, Bitcoin-themed sneakers have become a unique marketing tool for Trump. Notably, the sneakers feature the slogan "Trump, Crypto President," aligning perfectly with his remarks at the conference. Additionally, the official website states that five limited-edition pairs of the orange high-tops will be randomly autographed by Trump, giving sneaker enthusiasts a 1 in 200 chance of receiving a signed pair—an effort to further attract buyers and highlight the collectible value of the sneakers.
This is not Trump's first product promotion. As early as February 17, Trump delivered a speech at a sneaker convention held at the Philadelphia Convention Center, where he held up a golden "Trump" branded sneaker on stage, naming it the "Never Surrender High-Top Sneaker." "This is something I've talked 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 American flag motifs and a large letter "T" representing Trump, and were sold online for $399. Only 1,000 pairs were released. At the Philadelphia sneaker event, one man won an auction for a "golden Trump sneaker" for $9,000.
Currently, Trump’s website lists over a dozen additional footwear products, including golf shoes, low-top sneakers, slippers, two perfumes, and a cooler, all accepting payments via Bitcoin and credit card. According to the site, revenue from shoe sales will not be used as political donations.
On July 28, at the Bitcoin 2024 conference, Trump claimed that Bitcoin's market capitalization would surpass that of gold; promised to remove SEC Chair Gary Gensler if elected; and pledged to retain government-staked Bitcoin as strategic reserves. Through these statements, Trump aims to gain further support within the crypto community.
For example, on July 31, well-known investor and serial entrepreneur Gary Cardone announced a donation of 12.8 BTC (worth approximately $852,000) to Trump’s campaign. According to David Bailey, a Trump campaign aide, the campaign raised $21 million during the 2024 Bitcoin conference period.
In addition to launching Bitcoin-themed sneakers, Trump plans to release a fourth NFT series in the future. As of 1 p.m. on August 1, the floor price of Trump’s first digital trading card series dropped 4.46% in 24 hours, but its trading volume surged 145.59%. The second series saw a 3.74% drop in floor price with a 136.71% increase in trading volume. The third series (MugShot Edition) experienced a 2.95% decline in floor price.
On July 17, according to an interview published by Bloomberg Businessweek, Trump revealed plans to launch a fourth NFT collection. In the interview, Trump said his previously released NFTs were "very successful," selling out completely in a single day: "Sold out entirely: 45,000 cards. I’ve done it three times, and I’ll do it again because people want me to."
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