David Bailey, a prominent Bitcoin adviser to former U.S. President Donald Trump, is founding a $200 million political action committee (PAC) dedicated to advancing Bitcoin-friendly policies in the United States. The initiative aims to elevate Bitcoin’s price target to $10 million through enhanced regulatory clarity and adoption.
Key policy priorities include abolishing capital gains tax on Bitcoin sales and safeguarding the legal right to self-custody for digital assets. These measures draw on recommendations from Bitcoin community experts seeking to eliminate barriers to cryptocurrency usage.
This PAC enters a political landscape where crypto-focused groups like Fairshake have already spent heavily to support pro-crypto candidates. Bailey’s well-funded effort could significantly amplify Bitcoin’s influence in upcoming elections.
Establishing the PAC involves appointing an official treasurer, registering with the U.S. Federal Election Commission (FEC), and maintaining regular financial disclosures—a standard process for political fundraising entities.
The committee intends to focus lobbying efforts on critical areas including tax policy reform, legal protections for Bitcoin users, and aligning political advocacy with Bitcoin’s long-term ecosystem growth.