TechFlame reports that David Bailey, head of Bitcoin treasury company Nakamoto, announced plans to set up a new Political Action Committee (PAC) and intends to raise $100 million to $200 million to advance Bitcoin's priorities and become part of the Bitcoin voter platform. Bailey said he wants the PAC to be based on Nakamoto. Although Nakamoto currently only holds 21 bitcoins, he plans to buy hundreds of millions of dollars of bitcoins by August 11. Bailey has raised around $1 billion to invest in Bitcoin. The funds for this new PAC will be used to influence the 2026 US midterm elections, and its budget may be close to 4% of the total spending of the Super PAC.