A towering 12-foot statue of former President Donald Trump holding a Bitcoin was installed outside the US Capitol on Wednesday, coinciding with a significant monetary policy announcement by the Federal Reserve.

Fed rate cut marks shift in policy

At 2 p.m., the Federal Reserve announced a quarter-point reduction of its key interest rate, lowering it to approximately 4.1% from 4.3%.

This marks the central bank’s first rate cut since December 2024, a response to slowing job growth and rising unemployment.

The Fed also indicated plans for two additional cuts in 2025, but only one is forecast for 2026, falling short of Wall Street’s expectations for five cuts by next year.

Statue funded by bitcoin advocates

The Trump statue stood on 3rd Street from 9 a.m. to 4 p.m. as a temporary installation, funded by a group of bitcoin investors.

Organizers described the piece as a catalyst for discussion about the direction of digital currency, US monetary policy, and the federal government’s influence in financial markets.

Hichem Zaghdoudi, a spokesperson for the collective, explained:

“The installation is designed to ignite conversation about the future of government-issued currency and is a symbol of the intersection between modern politics and financial innovation. As the Federal Reserve shapes economic policy, we hope this statue prompts reflection on cryptocurrency’s growing influence.”

Tribute to Trump’s bitcoin stance

Group members noted the statue also pays tribute to Trump’s vocal support for bitcoin, aiming to draw attention from the public and lawmakers alike.

The artwork arrives at a time when debate over the role of bitcoin in the US economy is intensifying, particularly as the Fed’s actions continue to affect both traditional and digital asset markets.