Trump Advisor’s Eyes $200 million Bitcoin Focused on PAC

David Bailey, an entrepreneur and Bitcoin adviser to U.S. President Donald Trump, is seeking to raise $200 million for a political action committee to promote Bitcoin’s interests in the U.S.

Bailey is a serial entrepreneur, founder of Bitcoin Magazine and BTC Inc., who served as an adviser during Trump’s presidential campaign, IS Credit to He is the core figure in the president’s Bitcoin hub.

“I learned a lot about politics and how the game plays this year. I’m considering raising a $100 million-$200 million PAC anchored by Nakamoto to boost Bitcoin priorities,” he said. explain In Sunday’s X post, referring to his Bitcoin Treasury company, Nakamoto Holdings.

Our pacs Increase Funding is provided by donating money, and then donating the money to specific political candidates, parties and causes.

Fairshake is one of the most outstanding crypto PACs, by Crypto companies Includes Coinbase and Ripple Labs. it It is estimated that it will cost $130 million In the 2024 U.S. election, support candidates with a supportive champion and oppose those with an anti-Crepto stance.

Send Bitcoin to the Moon first

One of the key priorities for suggesting a platform is sending Bitcoin (BTC) The price is $10 million, according to Bailey, then Location It’s “long-term.”

Bailey, too ask Other priorities that users can brainstorm, and the proposed PAC should focus on Stephan Livera (Bitcoin Podcaster), suggestion Focus on abolishing Bitcoin’s capital gains tax Sales and protection of rights Self-customer.

Alex Gladstein, Chief Strategy Officer of the Human Rights Foundation, also has a series suggestionincluding PAC, should promote legal protections for open source developers, incentivize Bitcoin education in high schools, and allow foreign countries owed to the United States to repay debts with Bitcoin.

Bitcoin Investor, Research Analyst and Advisor of the Texas Bitcoin Foundation explain “The most important thing about American peace and prosperity related to Bitcoin will be to return the full amount of the return of the Reserve Bank”, where banks must keep 100% of their customer deposits in the reserves.

Other suggestions from users include promoting Bitcoin nonpartisans, promoting more Bitcoin ATM funds, and federal funds for Bitcoin education.

Bitcoin CEO says Bailey needs to act cautiously

Bailey founded Nakamoto Holdings, a Bitcoin holding company. Raised $300 million in May launchand other businesses such as hedge fund 210k Capital, Bloomberg said in his July 18 report There have been substantial investments in publicly traded companies that own Bitcoin treasury.

However, the CEO Publicly traded company BTCSCharles Allen, explain Because of these connections, Bailey needs to be “very cautiously trampled”.

“I have to be careful, your role is shareholders, and if you build a political effort with the funding base of a listed company, you may find yourself staring at class action lawsuits for breach of fiduciary obligations,” he said.

Bailey said it was “good feedback but thought it wasn’t a Coinbase issue,” Fairshake’s support.

“Stock shareholders might ask, right now we’re in a pro-Claputo environment, does this approach still make sense. Does this really make good use of company funds? It really depends on size. Just my two cents and I’ll stomp carefully,” Allen added.

Cointelegraph approached Bailey for further comment.

Generally speaking, create The PAC involves appointing a treasurer to process funds, registering with the Federal Election Commission, and submitting financial reports to the agency.

Related: Industry calls for emergency crypto law reforms after Australian election

Crypto companies enter political space

Crypto companies Spend more than $134 million In the 2024 U.S. elections. The election ends with floods Electioned official with pro-Creputo viewpoint.

In a recent example, James Walkinshaw Encrypted-backed PACs cost more than $1 million Support his game.