Entrepreneur and founder of Bitcoin Magazine aims to influence US political policy by raising funds for a PAC promoting Bitcoin priorities amid varied proposals and corporate caution.
Entrepreneur and Bitcoin adviser David Bailey is seeking to raise between $100M and $200M for a new PAC to advance Bitcoin interests in the US. Bailey, founder of Bitcoin Magazine and Nakamoto Holdings, outlined ambitions including a plan to boost Bitcoin’s price to $10 million and initiatives such as tax reforms, enhanced self-custody rights, and expanded crypto education. Corporate figures like BTCS CEO Charles Allen have cautioned about potential legal risks when using public company funds for political initiatives. The move follows broader crypto political fundraising efforts, with groups like Fairshake spending significant funds during the 2024 elections to support pro-crypto candidates.