Former US President Donald Trump is back in the limelight after giving a big endorsement of Bitcoin recently. This comes as he gears for a possible return to the White House in 2024. Now, Trump-themed Bitcoin sneakers on the market, launched only a few days ago, have sold out.
Taking a more pro-Bitcoin stance, Trump has tried to capture the backing of the crypto industry for his campaign efforts, which resulted in him receiving several high-profile endorsements from advocates of the crypto space.
Bitcoin Sneakers
During the Bitcoin Conference in Nashville, Trump also unveiled yet another release of new Bitcoin-themed sneakers to support his campaign.
Besides, his company, CIC Ventures LLC, marketed and sold the special “”Trump Crypto President High Tops – Bitcoin Orange”” and “”Luxurious Black”” sneakers for $499 and $299, respectively.
It launched 1,000 pairs of the “”Bitcoin Orange”” version and 4,000 of the “”Luxurious Black”” in two editions. The price of the shoes was to be paid in Bitcoin and other cryptocurrencies; as such, Trump was seen as moving with the current inclusion of digital money.
Investor Support and Market Response
The first batch of shoes sold out almost instantly, with the market responding super fast to Trump’s Bitcoin shoes. In the early weeks post-release, the sneakers were hitting between $700 and $2,500 on the secondary market.
A single pair is listed on eBay for sale at $69,999. Also, Trump’s unapologetic support for Bitcoin has generated significant contributions to his campaign fund.
He reportedly brought in around $25 million during the Nashville Bitcoin Conference, with his donations still rolling in. One of the most outstanding donations was from an American businessman who contributed $850,000 to Trump’s presidential campaign by donating 12.8 Bitcoin.
Now, as Trump continues to reinvent himself as the “crypto president,” he has made a promise to bring current regulatory standards to a close and grant a more crypto-favourable atmosphere.
His stance, in this case, is basically a flip from his earlier position vis-à-vis cryptocurrencies and one that will certainly appeal to some of his voters who are stakeholders in digital currency.
Overall, Trump’s inclusion of cryptocurrency in his campaign strategy is an interesting development in the commingling of politics and digital currencies.
Indeed, the former US President made headlines in January by launching a new NFT collection on the Bitcoin blockchain. The Trump Bitcoin Ordinals collection featured 200 cards with images from his MugShot series.
Editor’s note: Written with the assistance of AI – Edited and fact-checked by Jason Newey.
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