TLDR
- A golden Trump Bitcoin statue appeared in DC, linked to the DJTDST memecoin launch.
- The Trump statue coincided with the Fed’s 0.25% rate cut announcement.
- The DJTDST memecoin saw a surge in trading after the statue’s unveiling.
- The statue symbolizes Trump’s pro-Bitcoin stance and crypto market support.
A gold-colored statue of former President Donald Trump holding a Bitcoin appeared near Washington’s National Mall. The 12-foot statue was part of a stunt coordinated by memecoin creators associated with Pump.fun, a platform focused on creating viral crypto projects. The unveiling was timed with the Federal Reserve’s announcement of a 0.25% rate cut, sparking increased interest in cryptocurrency markets.
The statue, positioned opposite Union Square and close to the Capitol, symbolized Trump’s commitment to advancing the future of finance through Bitcoin and decentralized technologies. According to the organizers, the statue serves as a tribute to Trump’s leadership in promoting cryptocurrency adoption.
Memecoin DJTDST and Livestream Promotion
Along with the statue, the creators launched a memecoin called DJTDST on Pump.fun earlier in the week. The memecoin was tied to the statue’s unveiling, and trading volumes for the Solana-based token spiked soon after the event.
Livestreams featuring the team helped to draw attention to the statue, and the memecoin’s value saw a sharp increase as interest grew.
After the statue’s placement, the memecoin experienced an initial rise in price. However, it later deflated in value as traders sold off their holdings. Despite this, many investors remain optimistic, hoping for another surge if the statue catches more attention, especially if former President Trump himself comments on it.
Timing and Connection to Federal Reserve’s Interest Rate Cut
The timing of the statue’s appearance coincided with the Federal Reserve’s announcement of a 0.25% cut to its federal funds rate, the first rate reduction since December 2024. The Fed’s decision to lower rates typically makes assets like Bitcoin more attractive, as it lowers the cost of borrowing and encourages investment in riskier assets.
Although the stock market showed a muted reaction to the news, the crypto market saw some positive movement. Traders anticipated that the rate cut would boost liquidity and could further support Bitcoin and other cryptocurrencies.
The combination of the statue’s unveiling and the rate cut served to highlight Trump’s pro-crypto stance and his potential impact on the financial landscape.
Symbolic and Financial Implications of the Statue
The golden Trump Bitcoin statue, made of foam to ensure it was light and portable, was designed to ignite a conversation about the future of government-issued currency and the role of Bitcoin in that future.
According to Hichem Zaghdoudi, one of the organizers, the statue aimed to symbolize how Trump’s influence had driven Bitcoin adoption and institutional investments.
“This is a statement to show that without the president, we could never have had this mass adoption of Bitcoin,” Zaghdoudi explained. The statue also serves as a reminder of Trump’s ongoing advocacy for Bitcoin, with his proposed plan to establish a U.S. Bitcoin reserve gaining traction in crypto circles.
