David Bailey, entrepreneur and Bitcoin adviser to President Donald Trump, has announced plans to raise $200 million for a political action committee (PAC) focused on advancing Bitcoin-friendly policies in the United States.
Bailey, who also founded Bitcoin Magazine and BTC Inc., posted the news on X (formerly Twitter), highlighting his desire to create a powerful PAC "anchored by Nakamoto," his Bitcoin treasury firm. The PAC would be used to influence policies that could benefit Bitcoin's long-term growth, with one priority being to help drive the Bitcoin price to $10 million.
Bitcoin-Focused Agenda Emerges
“I’m thinking about raising a $100m–$200m PAC, anchored by Nakamoto, to advance Bitcoin priorities,” Bailey wrote. He also invited the Bitcoin community to suggest key focus areas.
Some suggested abolishing capital gains tax on BTC, supporting open-source developers, increasing Bitcoin education funding, and protecting the right to self-custody. Others proposed expanding Bitcoin ATM access and ensuring federal support for the Bitcoin ecosystem.
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Industry Voices Weigh In
Stephan Livera, podcaster, and Alex Gladstein of the Human Rights Foundation were among the thought leaders supporting the initiative. Suggestions included incentivizing Bitcoin education in schools and allowing foreign nations to repay debt in BTC.
Tuur Demeester emphasized returning to full reserve banking, which would mandate that banks retain 100% of deposits in reserve, as a cornerstone of Bitcoin-related economic reform.
Concerns Raised Over Fiduciary Responsibility
However, not all feedback was positive. Charles Allen, CEO of publicly traded BTCS, cautioned that mixing public company resources with political fundraising could raise legal and fiduciary concerns. “If you anchor political efforts with public company funds, you may face a class-action lawsuit,” Allen warned.
Bailey responded that the situation mirrors Coinbase’s backing of the Fairshake PAC, which spent over $130 million during the 2024 U.S. elections supporting pro-crypto candidates. As of now, Fairshake holds $141 million for upcoming elections.
Crypto Lobbying on the Rise
Crypto companies have become increasingly active in U.S. politics. Over $134
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