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$200 Million Bitcoin PAC? David Bailey’s Plan to Back Pro-Bitcoin Policies

Key Takeaways

  • ​David Bailey plans to raise up to $200 million for a PAC aimed at advancing Bitcoin-focused political goals in the US;
  • The fund may target long-term growth for Bitcoin, including pushing its price to $10 million and shaping favorable crypto policies;
  • Community suggestions include tax reform, self-custody rights, open-source protections, and Bitcoin education in schools.

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$200 Million Bitcoin PAC? David Bailey’s Plan to Back Pro-Bitcoin Policies

David Bailey, founder of Bitcoin Magazine and BTC Inc., is planning to raise up to $200 million for a political fund focused on supporting Bitcoin BTC $114,098.96 -related efforts in the US.

Bailey stated in an August 3 post on X that he is considering setting up a political action committee (PAC) backed by Nakamoto Holdings, a Bitcoin treasury company he manages, with a fundraising goal of $100 to $200 million.

In recent years, several crypto-related PACs have become more active. One of the largest, Fairshake, received backing from firms like Coinbase $1.78B and Ripple Labs and spent around $130 million during the 2024 elections.

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According to Bailey, one goal of the proposed PAC is to help raise Bitcoin’s value to $10 million over time, but he also emphasized a goal of supporting long-term progress in the Bitcoin community.

He also asked for feedback from the community. Alex Gladstein of the Human Rights Foundation recommended pushing for legal safeguards for developers working on open-source Bitcoin tools, expanding Bitcoin education to high schools, and giving countries that owe the US money the option to repay in Bitcoin.

Additionally, Stephan Livera, who hosts a Bitcoin podcast, suggested the group focus on removing capital gains tax for Bitcoin transactions and protecting the ability of users to hold their own assets.

Recently, Robert "Bo" Hines confirmed that the Trump administration still plans to build a national Bitcoin reserve. What did he say? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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