Trump Bitcoin Statue Erected Near US Capitol as Fed Cuts Rates

A 12-foot golden statue of former President Donald Trump holding a Bitcoin was unveiled near the US Capitol. The striking installation appeared on 3rd Street in Washington D.C. on Wednesday. It immediately drew public attention and sparked widespread debate online.

The statue’s unveiling coincided with a major Federal Reserve announcement. The Fed cut its key interest rate by a quarter-point that same day. This timing added a deeper financial context to the event.

Cryptocurrency Group Behind Trump Bitcoin Statue

A collective of cryptocurrency investors funded the temporary statue. This is according to a report from ABC affiliate WJLA. The group aims to provoke debate on digital currency and monetary policy.

A representative named Hichem Zaghdoudi spoke for the organizers. He stated the installation is a symbol of politics meeting financial innovation. They hope it prompts reflection on cryptocurrency’s growing influence.

The statue depicts Trump standing proudly. He holds a large Bitcoin coin in one hand. Its golden sheen made it a highly visible spectacle.

Federal Reserve Announces Concurrent Rate Cut

The Federal Reserve cut its key interest rate by 25 basis points. This move lowered the short-term rate to approximately 4.1%. It was the first rate cut since the previous December.

Fed Chair Jerome Powell led this decision. Officials had kept rates unchanged while evaluating administration policies. Their concern for the labor market’s health influenced the change.

This financial policy shift forms a ironic backdrop. The pro-crypto statue appeared as the government adjusted its economic levers.

The juxtaposition of a physical crypto symbol and a traditional monetary policy change is striking. This Trump Bitcoin statue captures a unique moment in financial and political history.

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Who paid for the Trump Bitcoin statue?

A group of cryptocurrency investors funded the project. Their goal was to spark conversation about digital currency. They are not officially affiliated with the Trump campaign.

Is the statue a permanent installation?

No, reports indicate it is a temporary art piece. Its exact duration on display near the Capitol remains unclear. Local authorities may decide its removal timeline.

What is the statue made of?

The statue appears golden but its exact materials are not specified. It stands 12 feet tall. It depicts Trump holding a large Bitcoin symbol.

How did the public react to the statue?

Reactions on social media were mixed but strong. Some supporters praised it as awesome and called Trump the best. Others criticized it as a political stunt.

Why was the statue unveiled now?

The timing coincided with a Federal Reserve interest rate cut. Organizers likely intended to link crypto discourse with traditional finance. It was a deliberate symbolic move.

Trusted Sources: The Associated Press, WJLA (ABC affiliate)