Yesterday, the leader of the Ministry of Finance, the 109th largest public Bitcoin (BTC) in the world, declared his intention to form the Political Action Committee (PAC).
Nakamoto’s David Bailey, who currently owns 21 BTC, is planning to buy hundreds of millions more on August 11th, and already plans to “cook” about $1 billion.
However, media executives are planning to raise another $100 million to $200 million for the new PAC “to promote Bitcoin priorities” and “to become part of Bitcoin voter platform.”
For context, that figure rivals funding by super PACs like the American Bridge 21st Century, putting the 2026 budget at nearly 4% of super PAC spending.
Even spending US midfield of $100 million in 2026 will run the median PAC Even presidential elections spend few digits of millions.
It is unclear whether the pay raise will include corporate donations from Nakamoto itself, but Bailey said he hopes the pack is “fixed to Nakamoto.”
David Bailey and other executives affecting the election
Bailey quickly made his way into Washington, D.C. when he supported Donald Trump’s candidacy in the spring of 2024. By July 2024, Trump had spoken at Bailey’s rally-style meeting in Nashville, and personally appreciated his efforts.
During the first months of Trump’s latest term as president, Bailey responded to various White House functions and gained continued recognition from the administration.
Bailey is Only one of many BTC finance executives with political goals.
Michael Saylor, outspoken executive chairman of MicroStrategy, meets with lawmakers and publicly seeks protection as a strategic national asset for the BTC. Certainly, he spends so much time in Washington, DC that he settled a lawsuit calling him pretending he didn’t live there.
Saylor’s company MicroStrategy owns approximately $72 billion worth of BTC.
Jack Dorsey, co-founder of Block (formerly Square) and Twitter, also supports Pro-BTC and Libertarian candidates. He was donated to Tarsi Gabbard and Andrew Yang and in June 2023 he approved Robert F. Kennedy Jr. as president.
Dorsey’s company, Block, owns approximately $1 billion worth of BTC.
Read more: Trump’s Wins Send Bitcoin Prices to the Highest of All Time, Boosting 8 Key Metrics
Many other executives of the company that holds BTC as a corporate asset are participating in White House functions, including 21 people (43,514 BTC) of Paolo Ardoino, Tyler and Cameron Winklevoss (17,938 BTC) and Brian Armstrong of Coinbase (11,776 BTC).
Over 1.2 million BTC managed by officials of the Ministry of Public and Private Treasurythese leaders have enough wealth to lavishly contribute to the midterm and presidential US elections for years to come.
