Trump Bitcoin statue unveiled: Who's behind golden structure outside US Capitol? Details here
A striking 12-foot golden statue of President Donald Trump holding a Bitcoin has been unveiled outside the US Capitol on 3rd Street.
A striking 12-foot golden statue of President Donald Trump holding a Bitcoin has been unveiled outside the US Capitol on 3rd Street, drawing crowds and controversy just as the Federal Reserve announced a 25-basis-point interest rate cut. The installation seems to symbolize the president's pro-cryptocurrency stance.
Several visuals of the statue were posted on social media. “That's awesome. He's the best!” one person wrote on X, platform formerly known as Twitter.
“The GOAT!! He’s working hard to make America the crypto hub! 🔥💯” another one added.
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Who is behind the Trump Bitcoin statue?
According to ABC affiliate WJLA, the temporary piece was funded by a collective of cryptocurrency investors. “Organizers said the piece is intended to provoke debate about the future of digital currency, monetary policy, and the federal government’s role in financial markets,” the report states.
Hichem Zaghdoudi, a representative of the group, stated, “This installation is designed to ignite conversation about the future of government-issued currency and is a symbol of the intersection between modern politics and financial innovation.”
“As the Federal Reserve shapes economic policy, we hope this statue prompts reflection on cryptocurrency’s growing influence.”
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Fed cuts interest rate
This came as the Federal Reserve cut its key interest rate by a quarter-point on Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation's labor market.
The move is the Fed’s first cut since December and lowered its short-term rate to about 4.1%, down from 4.3%. Fed officials, led by Chair Jerome Powell, had kept their rate unchanged this year as they evaluated the impact of tariffs, tighter immigration enforcement, and other Trump administration policies on inflation and the economy.
(With inputs from The Associated Press)
