- David Bailey of Nakamoto plans to create a political action committee (PAC) to support Bitcoin interests in U.S. elections.
- Bailey has raised around $1 billion and aims to secure an additional $100 to $200 million for the PAC.
- Other major Bitcoin company leaders, including Michael Saylor of MicroStrategy and Jack Dorsey of Block, are also active in political and policy efforts supporting Bitcoin.
- Public and private company executives together control over 1.2 million bitcoin, giving them significant financial influence in political campaigns.
- Major PAC funding for Bitcoin advocacy could rival the spending of top U.S. Super PACs during key election cycles.
David Bailey, the CEO of bitcoin treasury company Nakamoto, announced plans on August 2 to form a political action committee (PAC). His stated goal is to support Bitcoin priorities and influence U.S. elections, especially ahead of the 2026 midterm elections.
According to Bailey, Nakamoto currently holds 21 bitcoin and intends to buy hundreds of millions more, following a planned merger set for August 11. Bailey, who has already raised about $1 billion, seeks an additional $100 million to $200 million for the new PAC, which he says will be anchored by his company.
Bailey posted on social media: “I’m thinking about raising a $100m-$200m PAC (anchored by Nakamoto) to advance Bitcoin priorities.” A PAC, or political action committee, collects political donations and uses them to support candidates or causes. The target sum would place Bailey’s PAC among the largest U.S. Super PACs, matching budgets like the American Bridge 21st Century and representing nearly 4% of overall Super PAC spending in recent cycles.
It is unclear whether Nakamoto itself will contribute directly to the fundraising total. Bailey noted his goal is for the PAC to be “anchored” by the company.
Bailey attracted attention in U.S. politics by endorsing Donald Trump in 2024 and Hosting Trump at a Nashville conference. During the early months of Trump’s term, Bailey participated in White House events and received public acknowledgment from the administration.
Other industry figures have also pushed Bitcoin-related policy. Michael Saylor, executive chairman of MicroStrategy, has attended legislative meetings and advocated for Bitcoin as a “strategic national asset.” MicroStrategy currently holds about $72 billion in bitcoin.
Jack Dorsey, co-founder of Block (formerly Square) and Twitter, backs pro-Bitcoin and libertarian candidates, supporting politicians such as Tulsi Gabbard, Andrew Yang, and Robert F. Kennedy Jr. Block owns roughly $1 billion in bitcoin.
Other major holders—such as Paolo Ardoino of Twenty One (43,514 BTC), Cameron and Tyler Winklevoss (17,938 BTC), and Brian Armstrong of Coinbase (11,776 BTC)—have all attended political events and White House functions.
In total, executives at public and private treasury firms oversee more than 1.2 million bitcoin, making them significant potential contributors to U.S. election campaigns well beyond the 2026 midterms.
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