Crypto and tech fall as Trump is selling ‘Bitcoin sneakers’

0

Last Updated on 2 August 2024 by CryptoTips.eu

Geopolitical concerns over the situation in the Middle East and a slowing American economy caused a declining stock market as well as a falling crypto market on Thursday.

Ever since the replacement of Joe Biden by Kamala Harris as the Democratic presidential candidate, the chances of Donald Trump and the Republicans to win the elections have shrunk. Crypto is also reacting and is clearly going lower since that news broke. Meanwhile, Trump’s team is selling Bitcoin sneakers.

At the time of writing, Bitcoin is selling for $64,900.

Advertentie.

Nashville

You can say a lot about Donald Trump, but it is clear that he has a nose for business. Ever since he gave the keynote speech at the Bitcoin2024 conference in Nashville a week ago, his team has clearly been busy promoting some new crypto-related products to his many American fans.

Trump, who last week promised to create a ‘strategic Bitcoin reserve’ if he is elected in November, informed all his followers on July 31 at 6 pm local time that new ‘Bitcoin sneakers’ from his own brand ‘Trump crypto president’ were up for sale via his website.

Less than 24 hours later, the 1,000 available pairs of the most expensive version (which retailed at $500) had sold out.

Television

We all know by now that Donald Trump is a businessman. Rumor has it that Trump did not expect to win the presidential elections in 2016 and actually wanted to start Trump TV thanks to the publicity during the election season. Trump TV was set to become a new television station which would present itself as an even more right-wing rival to Fox.

However, Trump surprisingly won the election in 2016 and the plans for his television station were never realized. By now, there are several new TV channels in the United States that are indeed much more conservative (and right-wing) than Fox. He was right about that then.

Resold

Trump has been presenting himself as the genuine ‘crypto president’ for several years. For example, he’s been selling NFT images of himself through his websites (and made millions with it) and there are memecoins with his name and image (although no one really knows whether this is really related to any business interest of his).

When he became the first former president to have his mugshot taken earlier this year, it sparked another rush for his NFT collection. Traffic to the website that offers digital cards of Trump’s image in different poses immediately increased by 3,700%.

And now there are the Trump Bitcoin sneakers that sold out in 24 hours. You may think that $500 dollars for a pair of sports shoes with a Bitcoin and Trump logo is expensive, just but know that those same shoes are already being resold on eBay… for $2,500 per pair.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
View all posts