Trump Bitcoin Adviser David Bailey Eyes $200M PAC to Advance Crypto Agenda
David Bailey, a prominent Bitcoin entrepreneur and adviser to President Donald Trump, has revealed plans to launch a political action committee (PAC) with a fundraising goal of $100–$200 million to further Bitcoin-related policy initiatives in the United States.
$10M Bitcoin Vision and Policy Ambitions
Bailey, founder of Bitcoin Magazine, BTC Inc., and Bitcoin-focused investment firm Nakamoto Holdings, shared his intentions via X (formerly Twitter) on Sunday. His goal: to use political influence to accelerate Bitcoin adoption, including sending Bitcoin’s price to $10 million and cementing its long-term policy positioning in the U.S.
“I’ve learned a lot about politics and how the game is played this year,” Bailey said. “I’m thinking about raising a $100m–$200m PAC, anchored by Nakamoto, to advance Bitcoin priorities.”
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.
I have my own ideas, but what do you think should be part of the Bitcoin voter platform?
— David Bailey🇵🇷 $1.0mm/btc is the floor (@DavidFBailey) August 2, 2025
Political action committees in the U.S. gather donations to support aligned candidates and influence legislation. Bailey’s proposed PAC would join a growing list of crypto-centric lobbying efforts, such as Fairshake, which spent over $130 million during the 2024 elections to back pro-crypto candidates and defeat crypto skeptics.
Community Weighs In on PAC Goals
Bailey invited feedback on potential PAC priorities. Suggestions included:
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Eliminating capital gains tax on Bitcoin transactions (Stephan Livera, Bitcoin podcaster)
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Protecting self-custody rights
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Legal protections for open-source developers
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Bitcoin education initiatives in high schools
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Allowing sovereign debt repayment in Bitcoin (Alex Gladstein, Human Rights Foundation)
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Federal funding for Bitcoin ATMs
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Returning to full reserve banking (Tuur Demeester, Texas Bitcoin Foundation)
Some participants emphasized the need for the PAC to remain non-partisan, avoiding politicization of Bitcoin’s core principles.
Legal and Fiduciary Risks Raised
Bailey also faces scrutiny over the intersection of his corporate ventures and political ambitions. His company Nakamoto Holdings, launched in May with $300 million in capital, and hedge fund 210k Capital both hold substantial Bitcoin-related assets.
Charles Allen, CEO of publicly traded firm BTCS, warned Bailey about potential legal consequences:
“Your duties are to shareholders. If you anchor political efforts with public company funds, you may face a class-action lawsuit for breach of fiduciary duty.”
Bailey responded by referencing Coinbase’s support of Fairshake, suggesting precedent exists. However, Allen cautioned that even in a favorable regulatory climate, shareholders could challenge such expenditures depending on scale and strategic alignment.
Crypto Spending in Politics Reaches New Heights
Bailey’s initiative reflects a broader push by the crypto industry into the political arena. In 2024, over $134 million was spent by crypto-affiliated entities on U.S. elections, contributing to a wave of pro-crypto lawmakers entering Congress.
One notable example is James Walkinshaw, who secured a Democratic nomination in Virginia after a crypto-backed PAC spent over $1 million supporting his campaign.
Meanwhile, Fairshake has reported holding $141 million for future political activity, highlighting the crypto sector’s ongoing commitment to shaping favorable regulatory conditions.
What’s Next?
To officially launch the PAC, Bailey would need to appoint a treasurer, register with the Federal Election Commission (FEC), and submit regular financial disclosures.
If successful, the proposed PAC could become a major force in influencing U.S. Bitcoin policy, potentially reshaping financial regulation, taxation, and infrastructure development.
