Trump’s Bitcoin Whiz Plans $200M PAC: Moon or Bust? 🚀💰

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Well, I say, old bean, it appears that David Bailey, the chap who’s been whispering sweet Bitcoin nothings into Donald Trump’s ear, is now cooking up a scheme to raise a cool $200 million for a political action committee. Jolly good show, what? 🧐💼 The fellow, a serial entrepreneur and the brain behind Bitcoin Magazine and BTC Inc., fancies himself a bit of a political maestro after his stint as Trump’s crypto consigliere. “I’ve learned a thing or two about the old political game,” he chirped on X, “and I’m thinking of chucking a $100m-$200m PAC into the ring, anchored by Nakamoto, to give Bitcoin the leg-up it deserves.” 🤑🚀

Now, these PACs, my dear reader, are rather like those society parties where everyone chips in for the champagne, except instead of bubbly, they’re funding political candidates and causes. Fairshake, for instance, backed by the likes of Coinbase and Ripple Labs, splashed a whopping $130 million during the 2024 elections to ensure the crypto crowd had a seat at the table. 🥂📈

Bitcoin to the Moon: A Priority, What?

Bailey’s grand vision? Sending Bitcoin’s price to a staggering $10 million. Yes, you heard that right-ten million smackers. “Position it for the long term,” he says, as if Bitcoin were a vintage port that needed aging. 🌕📉 Stephan Livera, the Bitcoin podcaster, chimed in with some jolly ideas, suggesting the PAC should focus on abolishing capital gains tax on Bitcoin sales and protecting the right to self-custody. Alex Gladstein, from the Human Rights Foundation, added his two cents, proposing legal protections for open-source developers and Bitcoin education in high schools. Quite the brain trust, eh? 🎓🔐

Tuur Demeester, the Texas Bitcoin Foundation chap, reckons the real priority should be a return to full reserve banking. “Most important thing for American peace and prosperity,” he declared, with all the gravitas of a man who’s just discovered the secret to eternal life. 🏦✨

A Word of Caution from the Bitcoin CEO

But hold on, old sport, not everyone’s toasting Bailey’s plan with champagne. Charles Allen, CEO of BTCS, warns that Bailey must “tread very cautiously.” 🕵️♂️⚖️ “Your duties are to shareholders,” he cautioned, “and if you start anchoring political efforts with public company funds, you might find yourself in a spot of legal bother.” Bailey, however, brushed it off, claiming it “wasn’t an issue for Coinbase” with their Fairshake backing. “Just my two cents,” Allen added, “I’d tread carefully.” 🧐💼

CryptoMoon, ever the intrepid sleuth, reached out to Bailey for a spot of clarification, but as yet, no word back. 🕵️♂️📰

Setting up a PAC, by the way, isn’t all champagne and caviar. It involves appointing a treasurer, registering with the US Federal Election Commission, and filing financial reports. Quite the rigmarole, what? 📑✍️

Crypto’s Political Playbook

Crypto companies, it seems, are no longer content to lurk in the shadows. They’ve gone full-tilt into the political arena, splashing over $134 million on the 2024 elections. The result? A veritable flood of pro-crypto officials in office. James Walkinshaw, for instance, owes his Democratic primary win to a crypto-backed PAC that chucked $1 million his way. 🤑🗳️

And Fairshake? They’re sitting pretty with $141 million in assets, all earmarked for the next round of political shenanigans. 🤑📊

So there you have it, my dear reader-a tale of Bitcoin, politics, and a dash of caution. Will Bailey’s PAC send Bitcoin to the moon, or will it all end in a spot of legal bother? Only time will tell. 🚀🤞

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2025-08-05 06:12