David Bailey, entrepreneur and longtime Bitcoin adviser to President Donald Trump, announced plans to raise $100 M–$200 M for a political action committee focused on advancing Bitcoin’s interests in the US.
The move was shared in a post on X this Sunday, and Bailey’s goal is to back candidates and causes that support Bitcoin’s long-term growth and adoption.
PAC Plan Anchored by Nakamoto
Bailey said the new PAC would be “anchored by Nakamoto,” referring to his own Bitcoin treasury firm, Nakamoto Holdings. He did not specify whether the company itself would make a direct corporate donation.
He envisions a fund that can channel millions of dollars to pro-Bitcoin campaigns and policy initiatives across federal and state elections.
Building on Past Efforts
Bailey’s political work dates back to Trump’s 2020 campaign, when he advised on integrating Bitcoin into the candidate’s platform.
He also founded Bitcoin Magazine and BTC Inc., and more recently launched Nakamoto Holdings with $300M in initial capital. His track record in both media and finance has earned him a reputation as a leading voice in the Bitcoin community.
Community Ideas for Priorities
In his X post, Bailey invited followers to suggest priorities for the PAC. Podcast host Stephan Livera urged the group to push for the abolition of capital gains tax on Bitcoin trades and protect the right to self-custody.
Human Rights Foundation strategist Alex Gladstein proposed legal safeguards for open-source developers, Bitcoin education in high schools, and even allowing nations to repay debts to the US in Bitcoin.
Expert Views and Wider Debate
Other voices have joined the conversation, Texas Bitcoin Foundation adviser Tuur Demeester called for a return to full-reserve banking, where banks hold 100% of customer deposits in reserve.
Suggestions also included nonpartisan promotion of Bitcoin, funding for more Bitcoin ATMs and federal support for digital currency education programmes.
Comparisons with Existing Crypto PACs
Fairshake, one of the best-known crypto-related PACs, spent roughly $130M backing pro-crypto candidates in the 2024 US elections.
It receives support from major firms such as Coinbase and Ripple Labs. Bailey’s proposal aims to match or exceed that scale of influence, reflecting growing corporate interest in shaping digital asset regulations.
Also Read: Five Early Bitcoin Miner Wallets From 2010 Move 250 BTC, Total Holdings Valued At $29.6M
Corporate Caution
Not everyone is fully on board with anchoring political efforts to private firms. Charles Allen, CEO of BTCS, warned Bailey to proceed carefully.
He noted that using public company funds for political donations could expose executives to lawsuits over breaches of fiduciary duty. Allen’s comments highlight the legal and ethical risks involved when crypto businesses engage directly in politics.
Impact on the Bitcoin Price
One ambitious objective for the PAC is to push Bitcoin’s price toward $10M per coin. Bailey said this target underscores the group’s focus on long-term value rather than short-term market swings.
Critics say that price-target campaigns risk undermining the coin’s decentralised ethos, but supporters argue that stronger political backing could drive mainstream investment.
Growing Political Clout
With over 1.2M BTC managed by public and private treasuries, the Bitcoin executive community has amassed enough resources to remain a major donor force in US mid-term and presidential elections for years to come.
Political analysts expect crypto PAC spending to rise as digital assets gain wider acceptance among lawmakers and regulators.
Bailey plans to refine the PAC’s structure in the coming weeks and to begin fundraising immediately. He aims to file the necessary paperwork with the Federal Election Commission before the next fundraising cycle.