Bitcoin treasury chief David Bailey wants $200M for new Bitcoin PAC | Protos
Yesterday, the leader of the world’s 109th largest public bitcoin (BTC) treasury company declared his intention to form a political action committee (PAC). David Bailey of Nakamoto, which currently holds just 21 BTC yet plans to buy hundreds of millions more as early as August 11, has already raised about $1 billion “to cook with.” However, the media executive plans to raise another $100-200 million for his new PAC “to advance Bitcoin priorities” and “be part of the Bitcoin voter platform.” For context, that figure would rival fundraises by Super PACs like American Bridge 21st Century and place its 2026 budget at near 4% of total Super PAC expenditures. Spending even $100 million on 2026 US mid-terms would dwarf median PACs which expend low-single digit millions during even Presidential elections. I’ve learned a lot about politics and how the game is played this year. I’m thinking about raising a $100m-$200m PAC (anchored by Nakamoto) to advance Bitcoi...