Bitcoin Prices Weaken After Debate on Crypto Bubbles Issue

As previously reported, a few weeks ago, former US President Donald Trump launched a collection of 1,000 Trump sneakers at Sneaker Con in Philadelphia. These shoes sold quickly for USD 399 or the equivalent of IDR 6.1 million (assuming an exchange rate of IDR 15,518 per US dollar) per pair and can be purchased with Bitcoin.

“Sometimes we let people pay via Bitcoin, this is an additional form of currency,” said Trump in an interview with CNBC, quoted from Yahoo Finance, Sunday (17/3/2024).

This big statement came from the former president, who said Bitcoin was a disaster waiting to happen in 2021. His stance has changed since then. According to Trump, Bitcoin has had a life of its own and can live it one way or another.

Trump has had conversations with former presidential candidate Vivek Ramaswamy, who is pro-crypto and supports Trump. The conversation centered on the creation of a central bank digital currency (CBDC), which Ramaswamy opposed.

He pointed out the potential harm that Donald Trump could cause. In contrast, Trump vowed to never allow a CBDC, showing he respects Ramaswamy's opinion on crypto.

In the interview, Trump also discussed the crypto projects he is involved in, saying he does small things for fun and makes money with it.

While this doesn't mean he bought Bitcoin directly, it most likely refers to the Trump Digital Trading Cards non-fungible token (NFT) project. Trump collected trading royalties on the project, collecting more than 1,400 ETH. Trump sold 1,075 tokens for USD 2.4 million or equivalent to IDR 37.2 billion.