Crypto billionaires seek to reshape US and UK politics
Bitcoin billionaires are using their crypto wealth to influence elections and donate to political parties like Reform UK, aiming to reshape political landscapes in the US and UK.
Narrative Synthesis
Neutral news article compiled by integrating coverage details from all reporting stations.
Bitcoin billionaires are using their vast crypto wealth to reshape politics in the United States and the United Kingdom, according to reports from the largest Bitcoin gathering in the USA. The digital currency's explosive growth has turned early adopters into multi-billionaires, and they are now channelling that money into election campaigns and political parties.
In the US, the influence of crypto money has become a major force. Michael Saylor, founder of Strategy (formerly MicroStrategy), which holds about $65 billion worth of Bitcoin, told reporters that it is his company's job to explain to politicians why Bitcoin is good for the world. He argued that Bitcoin is economically superior, rising at double to triple the rate of the S&P 500 over the long term. However, Bitcoin has lost around half its value since its peak last year, and Saylor, who once promised never to sell, has started doing so.
David Bailey, the organiser of the Bitcoin conference who persuaded Donald Trump to adopt crypto, is now determined to rewire Washington. He criticised the traditional financial system for privatising profits and socialising losses, and claimed that Bitcoin offers a more robust alternative. Under the Biden administration, regulators went after crypto platforms for allowing money laundering, but in 2025 Donald Trump pardoned several figures, including Arthur Hayes, a partner of British mathematician Ben Deelow.
Trump's own crypto empire earned $1.4 billion in 2025, according to financial disclosures. The controversial Donald and Melania meme coins crashed in price, leaving small investors out of pocket but making the Trumps more than half a billion dollars. Bailey said he would have advised the president not to launch a meme coin, and suggested Trump might have reconsidered if he had known the outcome.
In the UK, Reform UK has become a major beneficiary of crypto wealth. This year alone, almost half of the money raised for UK political parties went to Reform. Donors include Christopher Harborne, who gave Farage a £5 million personal gift and donated £3 million to Reform this year, adding to a £25 million war chest. Another donor, Ben Deelow, gave £4 million. Reform has proposed a bill on crypto and digital assets, and its leader has been criticised for seeking to change UK crypto rules while receiving most of his money from that world.
Bitcoin advocates argue that the currency represents freedom and sovereignty, and that the Democratic Party will never be elected again unless it embraces crypto. But critics point to the risks: volatility, scams, and the concentration of wealth among early adopters. One organiser admitted that the crypto world is a "wild west" with both great stewards and scumbags.
On screen
Stills are sampled automatically at 60-second intervals. Where shown, the still is the nearest available frame from the relevant broadcast segment and is included as supporting evidence for criticism/review of the programme’s visual or editorial framing. A still may not correspond to the exact second of a quoted phrase.
Key Claims
Factual or political claims reported during this story's coverage, mapped by channel. Ordered by how many channels carried each claim.
| Claim | Channel 4 |
|---|---|
| Almost half of the money raised for UK political parties this year went to Reform UK, with donors including Christopher Harborne and Ben Deelow. | |
| Donald Trump's crypto empire earned $1.4 billion in 2025. | |
| Michael Saylor's company holds approximately $65 billion worth of Bitcoin. |
Channel Perspectives
Editorial focus, emphasis angles, and key quotes from each reporting news station.
Channel 4 News focused on the growing political influence of Bitcoin billionaires in both the US and UK, with a critical tone that highlighted risks, volatility, and the concentration of wealth. The report included extensive interviews with Michael Saylor and David Bailey, and detailed the donations to Reform UK, framing the story as a potential threat to democratic processes.
- “Bitcoin's gotten so big, we were able to swing the election outcome.”
- “If it doesn't change, they'll never be elected again.”
- “I think it's a wild west. And I think that there are great stewards and there are, you know, scumbags.”
Bulletin Timeline
Chronological list of news reports tracked for this story.