Bitcoin News Today: Trump Adviser Launches $200M Bitcoin PAC to Push $10 Million Price Target

David Bailey, a prominent entrepreneur and Bitcoin adviser to former U.S. President Donald Trump, has announced plans to establish a $200 million political action committee (PAC) aimed at promoting Bitcoin-friendly policies in the United States [1]. The initiative, shared via X (formerly Twitter), is anchored by Nakamoto, Bailey’s Bitcoin treasury firm, and seeks to influence legislation that could support long-term Bitcoin adoption and growth [1]. A key objective of the PAC is to help drive the price of Bitcoin to $10 million, reflecting a bold vision for the digital asset’s future [1].

Bailey, founder of Bitcoin Magazine and BTC Inc., has invited input from the Bitcoin community on priority areas for the PAC. Suggestions include eliminating capital gains tax on Bitcoin, increasing funding for Bitcoin education, supporting open-source developers, and protecting the right to self-custody. Additional proposals emphasize expanding Bitcoin ATM access and securing federal support for the Bitcoin ecosystem [1].

Notable figures in the crypto space have voiced support for the initiative. Stephan Livera, a popular podcaster, and Alex Gladstein from the Human Rights Foundation have endorsed the PAC, while economist Tuur Demeester proposed returning to full reserve banking as a foundational policy shift that could align with Bitcoin’s economic principles [1].

Despite the enthusiasm, concerns have been raised regarding potential legal risks. Charles Allen, CEO of publicly traded BTCS, warned that using public company resources for political fundraising could lead to fiduciary and legal challenges, including the risk of class-action lawsuits [1]. In response, Bailey drew a parallel to Coinbase’s $130 million investment in the Fairshake PAC, which supports crypto-friendly candidates and currently holds $141 million in funds for upcoming elections [1].

The growing involvement of crypto entities in U.S. political efforts reflects a broader trend. As of now, over $134 million has been invested in political campaigns by crypto-related organizations, signaling a significant shift in how digital assets are being integrated into policy discussions [1].

Source: [1] Trump Adviser David Bailey Plans $200M Bitcoin PAC To Send BTC to $10 Million (https://coinmarketcap.com/community/articles/6891800ff2f93c7b03c0e4d1/)