A golden statue of President Donald Trump was temporarily put up in D.C. on Sept. 17 to honor his support of cryptocurrency.
“The Bitcoin President” statue placed along the National Mall depicted Trump with a Bitcoin in his hand and was displayed as a demonstration for several hours, according to a National Park Service permit obtained by USA TODAY, which called it a “symbolic gesture.”
“Recognizing the president’s support for cryptocurrency and its role in pushing Bitcoin’s value beyond $100,000, this artistic installation aims to ignite discussion in this iconic location,” the permit stated.
The timing of the statue coincided with the Federal Reserve’s interest rate cut announcement, ABC 7News reported. The Crypto Times reported the stunt was organized by memecoin enthusiasts and tied to Pump.fun memecoin platform, which did not answer USA TODAY’s request for more information.
Bitcoin is a digital currency and virtual payment system designed to exist outside the control of a central entity. Holders can send and receive the digital tokens to anyone anywhere in the world.
For many, its major draw is that it is not governed or issued by central banks or authorities. While traditional fiat currencies, such as the U.S. dollar, are issued by governments that can produce them as needed, bitcoin has a limited supply and is produced by computers.
It runs on a network of computers in which all transactions are recorded, verified and updated by technology known as blockchain, which is akin to an online public ledger meant to prevent fraud. Blockchain and bitcoin were created in 2009 by a person or group using the pseudonym Satoshi Nakamoto.
The cryptocurrency is known for its price volatility, but some have gotten rich investing in the coin at the right time.
Trump hosted the first-ever White House cryptocurrency summit in March. He has said he wants to “make sure the U.S. is the Crypto Capital of the World.”
Kinsey Crowley is the Trump Connect reporter for the USA TODAY Network. Reach her at kcrowley@gannett.com. Follow her on X and TikTok @kinseycrowley or Bluesky at @kinseycrowley.bsky.social.