David Bailey, a prominent figure in the crypto space and adviser to former President Donald Trump, is making waves with his latest political ambition — the creation of a $200 million political action committee aimed at boosting Bitcoin adoption and reshaping financial policy in the United States.
Bailey, who leads Bitcoin Magazine and Nakamoto Holdings, revealed plans for the PAC in a post on X. With the goal of pushing Bitcoin to a $10 million price mark and building long term economic frameworks around it, the initiative aims to become a significant political force.
Bailey’s influence has grown since advising Trump’s campaign, where he helped pivot the former president’s stance on Bitcoin. Now, he’s looking to channel that momentum into real political power, leveraging contributions from the crypto community to support Bitcoin-friendly candidates and legislation.
Crypto supporters have been quick to suggest priorities for the PAC. These include eliminating capital gains taxes on Bitcoin, protecting the right to self custody, and even using Bitcoin for international debt repayment. Other goals floated include boosting Bitcoin education in schools and installing more ATMs nationwide.
But not everyone is fully on board. Charles Allen, CEO of BTCS, cautioned that intertwining public company funds with political advocacy could pose legal risks. Bailey defended the plan by citing Coinbase’s involvement in the pro crypto PAC Fairshake, which spent over $130 million in the 2024 elections.
The rise of crypto lobbying has transformed the US political landscape. With PACs like Fairshake holding millions in reserve for upcoming elections and growing bipartisan support, digital assets are no longer a fringe issue. Bailey’s proposed PAC is the latest sign that Bitcoin is not just a financial revolution — it is becoming a political one too.David Bailey, a prominent figure in the crypto space and adviser to former President Donald Trump, is making waves with his latest political ambition — the creation of a $200 million political action committee aimed at boosting Bitcoin adoption and reshaping financial policy in the United States.
Bailey, who leads Bitcoin Magazine and Nakamoto Holdings, revealed plans for the PAC in a post on X. With the goal of pushing Bitcoin to a $10 million price mark and building long term economic frameworks around it, the initiative aims to become a significant political force.
Bailey’s influence has grown since advising Trump’s campaign, where he helped pivot the former president’s stance on Bitcoin. Now, he’s looking to channel that momentum into real political power, leveraging contributions from the crypto community to support Bitcoin-friendly candidates and legislation.
https://twitter.com/DavidFBailey/status/1951768975643398173
Crypto supporters have been quick to suggest priorities for the PAC. These include eliminating capital gains taxes on Bitcoin, protecting the right to self custody, and even using Bitcoin for international debt repayment. Other goals floated include boosting Bitcoin education in schools and installing more ATMs nationwide.
But not everyone is fully on board. Charles Allen, CEO of BTCS, cautioned that intertwining public company funds with political advocacy could pose legal risks. Bailey defended the plan by citing Coinbase’s involvement in the pro crypto PAC Fairshake, which spent over $130 million in the 2024 elections.
The rise of crypto lobbying has transformed the US political landscape. With PACs like Fairshake holding millions in reserve for upcoming elections and growing bipartisan support, digital assets are no longer a fringe issue. Bailey’s proposed PAC is the latest sign that Bitcoin is not just a financial revolution — it is becoming a political one too.
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