KEYTAKEAWAYS
- Trump's Bitcoin-themed sneakers sold out quickly and are now being resold on eBay for up to $2,500.
- The move follows Trump's recent pro-crypto stance and promises of a "strategic national Bitcoin stockpile" if re-elected.
CONTENT
Former President’s Crypto-Themed Footwear Sparks Resale Frenzy as Limited Edition “Bitcoin Orange” High-Tops Sell Out Within Hours of Launch
Former President Donald Trump’s foray into cryptocurrency-themed merchandise has taken an unexpected turn as his limited edition “Bitcoin orange” sneakers hit the resale market at inflated prices. Just hours after their release, these high-tops are already listed on eBay for up to $2,500, marking a significant markup from their original $499 price tag.
The sneakers, part of a limited run of 1,000 pairs, sold out within three hours of their launch on the official Trump Sneakers website on July 31. The rapid sellout has led to a flurry of activity on eBay, with at least 12 listings ranging from $700 to $2,500. Some sellers are even offering a “best offer” option, while one listing humorously set a price of $69,999.
However, potential buyers should exercise caution, as the legitimacy of these listings remains uncertain. Most sellers promise to ship the footwear upon receipt, expected between September and November. While many sellers boast high ratings, some have faced accusations of scamming in their feedback sections.
The sneaker launch is part of a broader merchandise line that includes other Trump-themed items such as perfume and a “Freedom” cooler priced at $299. Two additional sneaker variations – orange low-tops and black high-tops – are still available for pre-order at $299 each.
Source: Trump Sneakers Official Website
This crypto-themed merchandise follows Trump’s recent shift in stance on cryptocurrencies. Once a vocal critic who described Bitcoin as a “scam” in 2021, Trump has now embraced crypto as a cornerstone of his re-election campaign. At the Bitcoin 2024 conference in Nashville on July 25, he promised to create a “strategic national Bitcoin stockpile” if re-elected, pledging that the US government would retain its $12 billion in confiscated Bitcoin.
>> Also read: Trump’s Bitcoin Conference Speech Summary: A Turning Point for Crypto in American Politics
Trump’s evolving position on cryptocurrencies aligns with his recent criticism of President Biden’s crypto policies. On May 26, Trump declared that the U.S. must lead the crypto industry, and on June 16, he vowed to end Biden’s “war on crypto” if elected on November 4.
The sneaker release, managed by CIC Ventures LLC (wholly owned by Trump according to his 2023 financial disclosure), is not officially associated with his political campaign. However, it clearly targets both crypto enthusiasts and Trump supporters, featuring a prominent Bitcoin symbol and branding Trump as the “Crypto President.“
This merchandise launch coincides with growing support for Trump from tech executives and crypto advocates. Notable figures like Elon Musk, the Winklevoss twins, and Andreessen Horowitz owners have recently endorsed or financially supported Trump, viewing him as more crypto-friendly than the current administration.
>> Also read: Trump Raises $25M at Bitcoin 2024 Conference Fundraiser
As the 2024 election approaches, Trump’s embrace of cryptocurrency and related merchandise underscores the growing influence of the crypto lobby in American politics. Whether this strategy will translate into votes remains to be seen, but it certainly has captured attention in both political and cryptocurrency circles.
