Donald Trump announced that he would be launching the production of limited-edition bitcoin-themed sneakers following his keynote address at the Bitcoin 204 conference. What will happen next? Crypto sausage or Bitcoin underwear? Why do we need such merch, and what does it mean for the crypto business and its value?
1. Right, now just try to picture the "Make America Crypto" line:
- Bitcoin burgers: "The most decentralized burgers in the world!"
- Ethereum energy drinks: "Smart contracts for your brain!"
- Dogecoin house slippers: "To the moon... right from your couch!"
2. Why do we need such merch and what does it mean for the crypto business and its value?
Such merch is primarily a marketing ploy. Its focus is on:
- Attracting attention: "Look, I'm trending!"
- Creating a sense of belonging: "I'm part of the crypto movement!"
- Fundraising: Election campaigns are expensive these days.
3. Where is the line between truly important innovations and crypto junk?
Important innovations usually solve real problems and move technology forward. And "crypto junk" is when they attach the word "crypto" to anything and expect it to fly to the moon.
4. What won't presidential candidates do?
It looks as though this question is becoming increasingly rhetorical with each election cycle. Judging by bitcoin sneakers, the lines are blurring faster than the altcoin price on the day of a flash crash.
Such marketing moves really do affect the general public's perception of cryptocurrencies. So perhaps what we are witnessing is not just an election stunt, but part of a broader process of integrating cryptocurrencies into the mainstream.