Key Takeaways
- President Donald Trump’s Bitcoin adviser David Bailey aims to launch a $100M–$200M political action committee to boost pro‑Bitcoin agendas.
- He aspires to boost Bitcoin price to $10M and support self‑custody policy, education, and open‑source development.
- Critics warn of potential shareholder conflicts given Bailey’s linked public holdings in Bitcoin companies.
Entrepreneur David Bailey, known for advising former President Trump on Bitcoin strategy, is preparing to form a political action committee (PAC) with ambitions to raise up to $200M.
The stated goals include pro‑Bitcoin legislation, policy changes, and even long-term price elevation targets.
Ambitious Vision from Price Extremes to Policy
Bailey proposes setting Bitcoin price to $10 million as a symbolic end goal while encouraging focus on abolishing capital gains tax, funding Bitcoin education, and protecting developer rights.
His calls for community input have drawn proposals including funding ATMs, promoting full-reserve banking, and enhancing self-custody protections.
Corporate Ties Raise Governance Concerns
Bailey’s ventures, including Nakamoto Holdings (raising $300M) and 210k Capital, raised red flags for governance experts.
BTCS CEO Charles Allen cautioned that using corporate funds for political pushes could invite shareholder lawsuits, though Bailey cited Coinbase-backed PACs as precedent.
The Trump Era: Crypto Firms Step into Politics
Crypto-backed PAC spending hit over $130M during the 2024 U.S. elections, with Fairshake among the top donors. With hundreds of millions ready for future elections, the trend shows increasing intersection between crypto communities and national politics.
Final Thoughts
Bailey’s proposed PAC marks a new chapter in crypto’s political engagement—combining financial target-setting with policy advocacy. Whether it succeeds may depend on public support, legal clarity, and corporate governance safeguards.
Frequently Asked Questions
What is the PAC intended for?
To raise funds (~$100M–$200M) for political initiatives that support Bitcoin adoption and legislation.
Is the $10M BTC price goal realistic?
Unlikely—but it serves as a symbolic long-term target to frame ambition.
What concerns exist around Bailey’s proposal?
Possible shareholder conflicts and misuse of corporate-donor perception given his business holdings.
