Pump.fun livestreamers amazed passersby after revealing a 12-foot golden statue of U.S. President Donald Trump on Wednesday, holding a Bitcoin outside of the U.S. Capitol.
This dramatic installation was part of a promotion of memecoin located right opposite Union Square on the National Mall, adjacent to Capitol Hill, and one mile from the White House.
The organizers claimed that the statue was a homage to Trump’s “unwavering dedication to advancing the future of finance by supporting Bitcoin and decentralized technologies,” while referring to Trump as the United States’ most openly pro-crypto president.
Symbolism and Timing of the Stunt
The reveal came during a pivotal economic circumstance, the Federal Reserve’s decision to lower interest rates by 25 basis points for the first time this year, which is often interpreted as bullish for high-risk assets, such as Bitcoin.
The timing was also an opportunity for the event’s organizers to talk about the relationship between politics, monetary policy, and cryptocurrency adoption.
Hichem Zaghdoudi, one of the spokespersons at the event, told ABC 7News DC that the statue was intended to provoke discussion about the future of currency and government involvement in innovation within financial systems.
Zaghdoudi also said that the installation was a “thank you” to Trump, claiming he has sped up the mass adoption of Bitcoin.
Details Behind the Installation and Its Memecoin Link
Despite the undoubtedly flashy golden look, the statue was made of hard foam rather than metal and was meant to be easily transported and set up.
Videos of the sculpting of the statue’s head and people transporting it into position before the reveal were shared on social media platforms by the event organizers.
The stated height of the statue was 12 feet (or 3.6 m), and it was directly linked to a memecoin called Pump.fun. Livestreams highlighted the token alongside the stunt.
One organizer joked in the livestream that he “hoped Trump himself would walk out there and see it,” not realizing at the time that Trump was in the UK.
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Bitcoin’s Price Momentum and Other Crypto Statues
The announcement comes on the heels of Bitcoin (BTC) continuing to rally, currently trading at $117,105, up 2.66% in the last 7 days, and a market cap of over $2.3 trillion.
While speeches to the rallies referenced Bitcoin’s head of state leadership contributing to Bitcoin rallying, some will point out that the latest bull run actually began under President Biden when regulatory agencies approved the spot Bitcoin ETF.
Outside Washington D.C, there have been other statues dedicated to the legacy of Bitcoin in the cryptocurrency world.
Almost a year ago, the Plan ₿ Forum unveiled a statue to praise Bitcoin’s pseudonymous creator, Satoshi Nakamoto, in Lugano, Switzerland, according to UnoCrypto.
In August of this year, we reported that the statue was famously stolen and thrown into Lake Lugano by vandals.
Despite such acts, the movement to create monuments dedicated to cryptocurrency continues to trend and demonstrates the cultural, in addition to the economic, impact of Bitcoin.
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