David Bailey, entrepreneur and Bitcoin adviser to US President Donald Trump, is seeking to raise $200 million for a political action committee to advance Bitcoin’s interests in the US.
Bailey, a serial entrepreneur and founder of Bitcoin Magazine and BTC Inc., served as an adviser during Trump’s presidential campaign and is credited with being a central figure in the president’s Bitcoin pivot.
“I’ve learned a lot about politics and how the game is played this year. I’m thinking about raising a $100m-$200m PAC, anchored by Nakamoto, to advance Bitcoin priorities,” he said in a post to X on Sunday, referring to Nakamoto Holdings, his Bitcoin treasury company.
Source: David Bailey
US PACs raise funds through donations, and then donate the money to specific political candidates, parties, and causes.
Fairshake is one of the most prominent crypto-related PACS, backed by crypto companies including Coinbase and Ripple Labs. It spent an estimated $130 million during the 2024 US elections to support candidates with a pro-crypto stance and oppose those with an anti-crypto stance.
Sending Bitcoin to the moon a priority
One of the key priorities of the proposed platform is to send the Bitcoin (BTC) price to $10 million, according to Bailey, and to position it “for the long term.”
Bailey also asked users to brainstorm other priorities the proposed PAC should focus on, with Stephan Livera, a Bitcoin podcaster, suggesting a focus on abolishing capital gains tax on Bitcoin sales and protecting the right to self-custody.
Chief strategy officer of the Human Rights Foundation, Alex Gladstein, also had a range of suggestions, including that the PAC should push for legal protections on open-source developers, incentivize Bitcoin education for high schools and allow foreign countries that owe America to pay back debts in Bitcoin.
Source: Alex Gladstein
Bitcoin investor, research analyst and adviser to the Texas Bitcoin Foundation, Tuur Demeester, said the “most important thing for American peace and prosperity as it relates to Bitcoin, would be a return to full reserve banking,” where banks are required to…
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