The globally popular statue of a young girl will keep staring down Wall Street's famed "Charging Bull" through February 2018 instead of being removed. In this photo, the 'Fearless Girl' statue stands in the snow and wintry mix in the Financial District in New York City, March 14, 2017. Getty Images

Democratic New York City Mayor Bill de Blasio announced Monday that the statue of a young girl staring down at the Wall Street's famous charging bull will hold her ground at least till February 2018. The statue has been globally known as "The Fearless Girl" and has already gained attention on social media platforms. The statue was installed on the eve of International Women's Day this year and its lease was expected to end on April 2.

The 127 centimeter statue of a defiant girl with both her fists placed firmly on her hips makes it relevant amid the political turmoil involving the president of the United States, the mayor said.

"She's standing up to fear, standing up to power, being able to find in yourself the strength to do what's right. She is inspiring everyone at a moment when we need inspiration," Blasio said, posing with the statue Monday. "Now, she’ll be asserting herself and affirming her strength even after her temporary permit expires — a fitting path for a girl who refuses to quit," he added, according to USA Today.

New York City Mayor Bill De Blasio poses for a photo with the 'Fearless Girl' statue during a press availability in New York City, March 27, 2017. De Blasio announced that the popular statue of a young girl staring down the famous Wall Street 'Charing Bull' will stay in place until February 2018. Getty Images

The two statues -- the bull and the girl -- were installed on a patch of cobblestone in Lower Manhattan. Earlier this month, on the eve of International Women's Day, a firm called State Street Global Advisors, the world's third-largest asset manager, showed its support for the women of New York and installed the statue facing the Wall Street's iconic "charging bull."

The statue was designed by an artist named Kristen Visbal. Soon after its installation, people started to visit the place more often and clicked pictures with the statues. Now, the statue remains at least until February 2018 mainly because of people's support for it expressed on social media, the press attention and at least two petitions from locals.

The girl's statue was installed for a specific reason by State Street. Its campaign was meant to pressurize companies in the city to employ more women to their administrative boards. Following the installation, State Street also sent letters to several thousand companies to take action, according to the Atlantic.

People took photographs of the 'The Fearless Girl' statue as it stood across from the iconic Wall Street charging bull statue in New York City, March 8, 2017. Getty Images

"She has clearly struck a nerve," said New York Democrat Carolyn Maloney. "She has really, really become a meaningful part of the community of New York. Everyone sees their own dreams and aspirations in the strength of this little girl," she added, ABC News reported.