Bitcoin Magazine, led by CEO David Bailey, aims to raise over $100 million to create an organization promoting Bitcoin-related policy ahead of the U.S. elections.
Goals of the Bitcoin Magazine Initiative
The initiative dubbed 'Bitcoin Magazine' proposes to establish a political action committee to influence lawmakers and support legislation related to Bitcoin. This organization is inspired by Fairshake PAC, which previously raised approximately $80 million for cryptocurrency advocacy during the 2024 elections.
Impact on Lawmakers
David Bailey warned of possible repercussions for lawmakers opposing the Bitcoin tax amendment. 'Any lawmakers voting against the Bitcoin tax amendment will face 'repercussions' in the upcoming midterm elections,' he stated, emphasizing a call for accountability among politicians.
Bitcoin Market and Regulatory Speculations
According to CoinMarketCap, as of June 30, 2025, Bitcoin (BTC) is priced at $108,676.70, with a market cap of $2.16 trillion. This underscores Bitcoin's significant role in the financial system and its potential for broader integration into existing financial contexts.
The fundraising initiative by Bitcoin Magazine to exert political influence demonstrates the growing importance of cryptocurrencies in mainstream financial and political discourse.
