On Friday it was revealed that a new bitcoin themed Super PAC has been launched to help “elect bitcoin champions.”
Basically, a Super PAC is an independent political committee that solicits donations to bolster independent political activity and help frame public policy. While Super PACs cannot donate directly to political candidates, the PAC can spend unlimited sums of money to either fight against political candidates and legislation or advocate for specific bureaucrats.
Corporations, unions, associations and individuals can donate to the Financial Freedom PAC but they cannot donate with U.S. dollars. The organization’s website discloses: “Fiat donations are currently not working. This is a feature, not a bug. Please donate bitcoin.”The fight for bitcoin in the U.S. will be a marathon, not a sprint. True to bitcoin’s ethos, this organization will operate with a low-time preference, focusing entirely on high-impact expenditures.
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