Golden statue of Trump holding Bitcoin installed outside US Capitol

A 12-foot golden statue of President Donald Trump holding a Bitcoin was installed outside the US Capitol on Wednesday. The statue was funded by cryptocurrency investors, according to ABC affiliate WJLA.

Organisers said the piece is intended to encourage debate about digital currency, monetary policy, and the federal government’s role in financial markets. They added that it also reflects Trump’s public support for cryptocurrency and is expected to draw attention from passersby.

The installation coincided with the Federal Reserve’s announcement of a 25-basis-point cut to its key interest rate, lowering it from 4.3% to about 4.1%.

Images of the statue circulated widely on social media, where several users praised Trump’s stance on cryptocurrency. (AP Photo)

This was the first rate cut since December 2024. The central bank also projected two more cuts this year and only one in 2026, a move that may disappoint Wall Street.

Earlier in the year, the Fed kept rates unchanged to monitor the impact of tariffs, stricter immigration policies, and other measures on inflation and the wider economy. President Trump has often criticised Fed Chair Jerome Powell, and attention now turns to his response to the latest decision.