A striking sight appeared outside the U.S. Capitol on Wednesday when a towering golden statue of former President Donald Trump, gripping a Bitcoin, was unveiled. The stunt, organized by a group affiliated with the memecoin project Pump.fun, aims to celebrate Trump’s notable ties to the cryptocurrency world.
Situated across from Union Square on the National Mall, the 12-foot statue serves as a visual symbol of Trump’s perceived commitment to advancing digital currencies and decentralized technology. The organizers believe that the statue represents a fusion of contemporary politics with financial innovation, instigating discussions on the future of fiat currencies.
According to a statement from the organizers, the unveiling coincided with the Federal Reserve’s decision to lower interest rates by 25 basis points—an action generally interpreted as favorable for high-risk assets like cryptocurrencies by decreasing borrowing costs.
Notably, Trump’s relationship with Bitcoin intensified during his presidential campaign, leading to significant financial contributions from the crypto industry. In office, the former president and his family further entrenched themselves in the sector, raising concerns about potential conflicts of interest as they rolled back regulatory scrutiny on cryptocurrencies.
“This is a statement, and it’s meant to convey that without the president’s support, the mass adoption of Bitcoin and cryptocurrencies wouldn’t have occurred,” said Hichem Zaghdoudi, one of the event’s organizers. He emphasized that the statue serves as both gratitude to Trump and a symbol of the future of finance.
However, it is crucial to note that Bitcoin has experienced significant growth during the Biden administration, spurred by the anticipation of regulatory approvals for spot Bitcoin exchange-traded funds, making crypto more accessible to institutional investors.
The statue itself was crafted from “extremely hard foam,” a lightweight material that made transport easier for its creators. During a livestream leading up to the statue’s placement, organizers showcased the creation process, which included a machine sculpting Trump’s head. The initiative also involved various promotional livestreams for the associated memecoin.
Interestingly, the event drew attention to the National Mall, a location famed for hosting various statue protests. This golden representation of Trump marks at least the third statue tied to him this year, although it is the first to celebrate his contributions. Earlier in June, a separate statue titled “Dictator Approved” emerged, depicting a golden hand crushing the crown of the Statue of Liberty—an expression of disapproval regarding Trump’s military parades.
In the same month, another installation featured a gold television showcasing Trump dancing with convicted sex offender Jeffrey Epstein, further stirring controversy over the former president’s administration.
This recent statue’s unveiling also comes amidst ongoing discussions among U.S. lawmakers to embrace regulatory measures concerning Bitcoin reserves and market structures. Conversations like these indicate a growing interest in integrating cryptocurrencies within governmental frameworks, which opens the door for further dialogue in the evolving landscape of digital finance.
The golden Trump statue, while controversial, reflects not only the political landscape but also highlights the intersection of finance and governance in America today.
