On July 27, former President Donald Trump launched a new product: bitcoin-themed sneakers.
The shoes came in three different designs. Some were bright orange, a color associated with bitcoin and Trump. Others were black. All came emblazoned with the Bitcoin logo, US flag, and a slogan declaring Trump the “Crypto President.” Some are even signed.
Only 1,000 pairs of each design were made available. Prices ranged from $299 for the low-top black shoes to $499 for the orange high-tops. Despite the high price, they quickly sold out. Some are up for grabs on eBay, going for two, three, and even five times the original price.
Trump Positions Himself as the Crypto Candidate
Trump launched the sneakers shortly after giving a speech at the Bitcoin Conference in Nashville. The 3,000-odd attendees heard Trump pledge to make the US the “bitcoin superpower of the world.” The former president also repeated several favorite themes, from the border with Mexico to the danger of the “radical left.”
“Let me tell you, if they win this election, every one of you will be gone. They will be vicious, they will be ruthless. But right now, because of me, they’re leaving you alone. So please say, ‘Thank you, President Trump!’”
Donald Trump at the Bitcoin Conference in Nashville, Tennessee.
While Trump’s fiery speech received a standing ovation, his words appeared to have the opposite effect on bitcoin itself. The price of the cryptocurrency declined by roughly one percent over the course of Trump’s speech, and continued to decline over the weekend. Five days later, the flagship cryptocurrency’s price was down nearly 17%.
Trump has not always been such a vocal proponent of cryptocurrency. “I am not a fan of Bitcoin and other Cryptocurrencies,” he tweeted in 2019. “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade.”
“We have only one real currency in the USA,” he wrote. “It is called the United States Dollar!”
Oval Office Marketing
The former president has, however, long been partial to a marketing stunt. Shortly after the failed attempt on his life, for example, Trump launched a range of assasination-themed sneakers. Printed on some was the picture of him raising his fist while being escorted to safety. Other products created to capitalize on specific moments or trends include Trump NFTs and t-shirts with his mugshot printed on them.
Trump’s willingness to use his political position to promote merchandise extends back to his presidency. In 2020, for example, the CEO of the food brand Goya sparked a boycott by publicly supporting Trump.
In response, Trump posted a picture of him in the Oval Office promoting Goya products. Several days later, as the controversy raged, he posted another image that read, “I love Goya.”
Related: Billionaires Endorse Trump
These stunts have apparently earned Trump millions. In 2023, the Trump campaign told POLITICO that it had raised over $7 million in a few days after Trump’s mugshot was released. Trump merchandise also has some serious fans.
One man, for example, was interviewed by The New York Times after shelling out $9,000 on a pair of gold Trump sneakers.However, not everyone is impressed by Trump’s latest, crypto-themed effort.
“I’d almost give him credit for learning and changing his position,” one Reddit user commented, “if it weren’t for the fact that he only changed his position to more effectively freight his minions.”
