Crypto billionaires seek to reshape US and UK politics

Bitcoin billionaires are using their vast wealth to reshape politics in both the United States and Britain, according to a report from the world's largest Bitcoin conference in Las Vegas. The cryptocurrency's explosive growth has created a new class of ultra-wealthy individuals who are now pouring money into election campaigns and political parties, with a particular focus on the UK's Reform party.

In the US, the influence of crypto money has become a major force. Michael Saylor, founder of Strategy and the largest corporate holder of Bitcoin with about $65 billion worth, told reporters that his role is 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, and described it as 'freedom money' that offers economic sovereignty. 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, 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 has built a more robust system. Trump has embraced crypto, appointing sympathisers to high-level positions and launching his own meme coins, which crashed in price but earned the Trumps more than half a billion dollars. Bailey admitted he would have advised Trump not to launch the meme coin, saying if Trump had known the outcome he might have reconsidered.

In Britain, the influence of crypto wealth is also growing. This year alone, almost half of all money raised for UK political parties went to Reform. Donors include Christopher Harborne, who gave Nigel Farage a personal gift of £5 million and donated £3 million to Reform this year, adding to a previous £25 million war chest. Another donor, British mathematician Ben Deelow, gave £4 million. Deelow and his partner Arthur Hayes made huge sums from crypto, and both were pardoned by Donald Trump in 2025 after being targeted by regulators under the Biden administration for allowing money laundering on their site.

The report noted that Bitcoiners are single-issue voters, and that the Democratic Party risks losing power if it does not embrace the currency. One leading Bitcoin booster warned that Democrats will never be elected again unless they become more supportive. The conference itself was described as a 'wild west', with both great stewards and scumbags in the space. The overall message is that crypto billionaires are now a political force to be reckoned with, using their fortunes to buy influence and push for regulatory changes that benefit their industry.