September 18, 2025
In March, the president signed an govt order to determine a ‘strategic bitcoin reserve and digital asset stockpile.’
A 12-foot golden statue of President Donald Trump outdoors the U.S. Capitol in Washington, D.C. seems to point out him holding the cryptocurrency bitcoin.
The statue arrived because the Federal Reserve introduced a quarter-point rate of interest lower on Wednesday. In response to native station WJLA, the momentary piece on third Avenue was funded by a collective of cryptocurrency buyers.
“The set up is designed to ignite dialog about the way forward for government-issued forex and is a logo of the intersection between trendy politics and monetary innovation,” Hichem Zaghdoudi, spokesperson for the buyers, informed the outlet. “Because the Federal Reserve shapes financial coverage, we hope this statue prompts reflection on cryptocurrency’s rising affect.”
Golden Statue Comes As Traders Applaud Trump For Embracing Cryptocurrency
Lower than two months into his second time period, Trump signed an govt order to determine a “strategic bitcoin reserve and digital asset stockpile.”
“Bitcoin, the unique cryptocurrency, is known as ‘digital gold’ due to its shortage and safety, having by no means been hacked,” mentioned Trump within the govt order. “With a hard and fast provide of 21 million cash, there’s a strategic benefit to being among the many first nations to create a Strategic Bitcoin Reserve.”
The Trump administration claims that whereas the USA holds a major quantity of bitcoin, it has not “maximized its strategic place” as a singular retailer of worth within the international monetary system. It’s additionally essential to notice that, days earlier than his inauguration, the then-president-elect launched one other cryptocurrency, a meme coin named $TRUMP, which many thought of a battle of curiosity.
Proponents of the reserve argue that it’s going to additionally assist the federal government scale back its debt and immediately strengthen the U.S. greenback. Opponents, nevertheless, say that the justifications are imprecise and insufficient.
“Take the BITCOIN Act’s declare {that a} bitcoin stockpile will assist the federal government repay its debt. For that to be true, two issues should occur. First, bitcoin’s worth should go up,” analysts on the Cato Institute famous. “Second, the stockpile should finally be offered to comprehend the features, and you’ll wager that the identical bitcoin holders who’ve managed to get the federal government to maintain the bitcoin it already has will cry foul if it ever tries to promote any new cash it acquires.”
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