A golden statue of President Donald Trump with a bitcoin, over 3.5 meters high, was installed near the US Capitol, coinciding with the Federal Reserve's upcoming interest rate decision on Wednesday, UNN reports with reference to WJLA TV channel.
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The US Federal Reserve announced a quarter-point cut in its key interest rate, the first cut since December 2024. This cut will bring the short-term rate down to approximately 4.1% from 4.3%. Last year, the central bank cut rates three times due to concerns about slowing job growth and rising unemployment.
The central bank also announced plans for two more rate cuts this year. However, only one cut is expected in 2026, which may disappoint Wall Street, which had expected five cuts by next year.
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The temporary statue, installed on 3rd Street from 9:00 AM to 4:00 PM, was funded by a group of cryptocurrency investors. The organizers stated that this installation is intended to provoke a discussion about the future of digital currency, monetary policy, and the role of the federal government in financial markets.
"The installation is intended to initiate a discussion about the future of state currency and is a symbol of the intersection of modern politics and financial innovation," said Hichem Zaghdoudi, a representative of the crypto investor community that funded this art installation. "We hope that this statue will encourage reflection on the growing influence of cryptocurrency as the Federal Reserve shapes economic policy."
Group members said the statue pays tribute to Trump's open support for cryptocurrency and is expected to attract attention from observers throughout the day.