A 12-foot golden statue of President Donald Trump holding a Bitcoin has been installed outside the US Capitol, drawing crowds and controversy. The unveiling coincided with the Federal Reserve’s announcement of a 25-basis-point interest rate cut. According to ABC affiliate WJLA, the statue was funded by cryptocurrency investors.
“Organisers 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,” reports noted.
Group members said the statue paid tribute to Trump’s outspoken support for cryptocurrency and is expected to draw attention from observers throughout the day.
This follows the Federal Reserve’s quarter-point cut to its key interest rate, bringing the short-term rate down to approximately 4.1 per cent from 4.3 per cent.
Earlier this year, under Chair Jerome Powell, the Fed maintained steady interest rates to monitor the effects of tariffs, stricter immigration policies, and other measures influencing inflation and the broader economy.
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