Bitcoin faucet 15: Sculptures near the New York Stock Exchange celebrate monumental rise
On June 12, 2010, Core BTC contributor Gavin Andresen launched the famous Bitcoin faucet. At that time, cryptocurrencies were only over a year old, and there was a lot of uncertainty about their future.
The Bitcoin faucet was one of the earliest projects to improve its adoption. The site gives 5 BTC to each visitor, at the time each BTC was worth about $1 to provide more people with people using digital assets.
Since then, cryptocurrencies have brought one of the largest gatherings in history to more than $100,000. In addition, digital assets have been accepted by major institutions in the traditional financial industry.
Art installation commemorates the rise of Bitcoin
In this case, fund investors turned into mathematical artist Nelson Saiers created a unique sculpture to respect the rise of Bitcoin. As shown in the figure below, the artist placed a work called “Liquidity” near the New York Stock Exchange (NYSE) building.
'Liquidity' the Bitcoin Faucet sculpture honoring BTC's long journey into Wall Street. Image courtesy of Nelson Saiers
The piece is a white monolithic block covered with codes for Bitcoin themes and black faucets, which not only illustrates this critical early project, but also how cryptocurrencies entered Wall Street.
In an exclusive speech with the Bitcoiner, the artist claimed that the work was strategically installed near the New York Stock Exchange to highlight the huge jump in Bitcoin and how the U.S. Federal Reserve (Fed) and traditional institutions contributed to the rise of cryptocurrencies. Sails tells us:
I placed a sculpture called “Liquidity” near the New York Stock Exchange to commemorate the event. The option to put it near the New York Stock Exchange is to celebrate its rise from tokens that had little value 15 years ago to assets with a total market capitalization.
The faucet image and the “liquidity” title also suggest that the Fed’s action injects liquidity into the market, which in my opinion benefits BTC.
Bitcoin is no longer
Over the past decade, Saiers has worked to create and install unique works to celebrate Bitcoin and condemn the U.S. authorities. As the Bitcoiner covered three years ago, the artist called it “cheap” in the Fed, which is by installing an old-fashioned gum machine in front of the Wall Street Bulls, pointing to the agency’s “cheap currency” policy.
BTC's price trends to the downside on the daily chart. Source: BTCUSDT on Tradingview
Additionally, Saiers has installed an inflatable bitcoin mouse, one of his most iconic works, with similar goals on different occasions to convey a popular sense of distrust and a lack of confidence in traditional institutions.
Regarding his latest work, Sell also tells us:
In many ways, BTC is the ultimate financial outsider. From Nobel Prize winners to world-class financiers like Warren Buffett and Jaime Dimon, many leading experts have ridiculed and insulted it. But today, it goes from Andresen’s free distribution 15 years ago to an asset with a market capitalization that rarely exceeds (…).
Cover image provided by Nelson Saiers, charts for TradingView
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