Bitcoin Treasury Head David Bailey Plans to Raise $200 Million for New Political Action Committee

According to ChainCatcher, citing Protos, David Bailey, head of the Bitcoin treasury company Nakamoto, has announced plans to establish a new Political Action Committee (PAC) and intends to raise between $100 million and $200 million to advance Bitcoin-related priorities and become part of a Bitcoin voter platform.

Bailey stated that he hopes the PAC will be based on Nakamoto. Although Nakamoto currently holds only 21 bitcoins, there are plans to purchase several hundred million dollars’ worth of bitcoin by August 11. Bailey has already raised about $1 billion for bitcoin investments, and the funds for this new PAC will be used to influence the 2026 U.S. midterm elections, with its budget potentially approaching 4% of total super PAC expenditures.