In a bold move that could reshape the political landscape of crypto policy in the United States, David Bailey, CEO of Bitcoin Inc., is reportedly preparing to raise over $100 million to launch a political action-style organization dedicated to promoting Bitcoin-friendly legislation ahead of the U.S. midterm elections.
The initiative, led by Bitcoin Magazine, draws inspiration from existing crypto-focused political funds such as Fairshake PAC, and aims to hold lawmakers accountable for policies perceived as hostile to Bitcoin.
“Any lawmakers voting against the Bitcoin tax amendment will face ‘repercussions’ in the upcoming midterm elections,” Bailey said in a statement that has already sparked strong reactions across both political and crypto communities.
The proposed entity would function similarly to a Political Action Committee (PAC), channeling donations and resources into supporting candidates who align with pro-Bitcoin policies. With Bailey at the helm, the effort is expected to prioritize issues such as:
Bailey’s plan signals a growing appetite within the Bitcoin community to actively shape policy outcomes rather than passively react to government decisions.
The news has generated a mixed response:
Some also caution against centralizing influence around a single organization or figure, warning that the decentralized ethos of Bitcoin could be compromised.
The timing of this initiative is significant. With debates ongoing over proposed amendments to U.S. tax law — including controversial rules impacting how Bitcoin holdings are reported and taxed — Bitcoin-friendly legislators have found themselves under pressure from both sides.
Bailey’s remarks underscore the initiative’s intent to “elect or unseat” politicians based on their Bitcoin voting record. That posture aligns with an emerging trend in crypto advocacy: political accountability through direct funding and election influence.
If successful, the $100 million fundraising goal would make this one of the largest political efforts ever launched by a crypto-native organization. It would also mark a dramatic escalation in how the Bitcoin industry engages with government policy.
As Bitcoin continues its push into the mainstream — from financial markets to balance sheets and now ballots — initiatives like this are likely to become more common.
Whether this leads to a more Bitcoin-friendly legislative environment or deeper political entrenchment remains to be seen. But one thing is clear: Bitcoin is no longer just a technology or investment. It’s becoming a political force.
June 2025, Cryptoniteuae