Highlights:
A giant golden statue of former President Donald Trump holding a Bitcoin was revealed outside the US Capitol on Wednesday. The statue was streamed live on Pump.fun, a well-known site for launching meme tokens. The statue, towering at 12 feet, was positioned opposite Union Square on the National Mall in Washington, DC, within walking distance of Capitol Hill and about a mile from the White House. Its central location ensured visibility to visitors and media alike.
According to a website tied to the stunt, the display honours Trump’s “unwavering commitment to advancing the future of finance through Bitcoin and decentralized technologies.” Organisers organized the display, which serves as both a political tribute and a nod to the growing influence of cryptocurrencies.
Hichem Zaghdoudi, one of the organisers, told local media, “This is a statement, this is to show everybody that without the president, we could never have had this mass adoption of Bitcoin, of cryptocurrencies, of all these big institutions buying Bitcoin. It shows that’s the future and this is our thank you, our statement, to the president.” Zaghdoudi added that the statue symbolises the view that Trump’s encouragement helped institutional investors enter the Bitcoin market.
A livestream showed that artists crafted the sculpture from high-density foam. The lightweight material allowed multiple people to carry it into position. Social media clips showed machines carving Trump’s head and workers lifting the figure into place. The organiser mentioned that the statue stands 12 feet (3.6 meters) tall. He expressed hope that Trump would “walk out there and see it,” not realizing the president was visiting the United Kingdom at the time.
Trump’s UK visit included high-profile meetings on tariffs, trade, and AI. Crypto leaders are urging him to support clearer digital asset rules, warning the UK could fall behind the EU, Singapore, and Dubai.
The timing of the statue coincided with a Federal Reserve decision to cut interest rates by 25 basis points. Lower borrowing costs are often favourable for riskier assets, including cryptocurrencies. Trump has repeatedly pushed Jerome Powell to cut interest rates, often using harsh words toward the Fed Chair.
Trump supported cryptocurrencies during his presidential campaign last year. His campaign got strong support from the crypto industry. His family also increased their involvement through World Liberty Financial Inc. World Liberty Financial joined the Digital Freedom Fund PAC, led by the Winklevoss twins. Their goal is to make the US a top cryptocurrency hub. Some critics worry about conflicts of interest with Trump cutting regulations. Crypto fans are excited, hoping for the next big crypto boom.
eToro Platform
Best Crypto Exchange
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.