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And Falcon isn't sending just anybody, either. According to the filing, the Bitcoin fund's lobbyist will be company Chief Executive Officer Brett Stapper.
"Our objectives at this point are very simple. In our discussions and debates we have realized that those who oppose Bitcoin don't really oppose it, they simply don't understand it. Our main concern is that our elected officials will pass regulations without being fully educated on the topic which could have a negative impact on the Bitcoin ecosystem," Stapper told Business Insider.
Falcon Global Capital launched in March and invests entirely in Bitcoin. It functions like a gold hedge fund, purchasing and storing bitcoins ranging in value from $25,000 to $10,000,000 on behalf of investors.
For now, however, the Falcon Bitcoin fund is only open to accredited investors (an individual with at least $1 million in assets or net income of $200,000 a year), much like SecondMarket's Bitcoin fund, the Bitcoin Investment Trust.
It's a fledgling business, and Stapper is going to Washington in part to head off any misguided regulations.
"My business is Bitcoin and we're the first investment bank to work solely in virtual currencies, so I'm very pro-Bitcoin," Stapper told Bank Innovation. "I was very disturbed to see no one has done this yet and I felt like hopefully if we start, that others will come and help."
While Falcon is the first Bitcoin-based company to seek a lobbyist on Capitol Hill, it won't have the first Bitcoin lobbyist there. Last month, Mastercard Inc. (NYSE: MA) said it would be enlisting five staffers from the lobbying firm Peck Madigan Jones to focus on legislative issues concerning Bitcoin.
The Mastercard lobbyists aren't likely to be advocating for Bitcoin, however, as Stapper intends to do.
And while Mastercard has said its lobbyists will focus on "gathering information," Stapper isn't so sure.
The possibility that Mastercard could see Bitcoin as a threat to its credit card business – and lobby in favor of crippling regulations – is also on Stapper's radar.
About the Author
David Zeiler, Associate Editor for Money Morning at Money Map Press, has been a journalist for more than 35 years, including 18 spent at The Baltimore Sun. He has worked as a writer, editor, and page designer at different times in his career. He's interviewed a number of well-known personalities - ranging from punk rock icon Joey Ramone to Apple Inc. co-founder Steve Wozniak.
Over the course of his journalistic career, Dave has covered many diverse subjects. Since arriving at Money Morning in 2011, he has focused primarily on technology. He's an expert on both Apple and cryptocurrencies. He started writing about Apple for The Sun in the mid-1990s, and had an Apple blog on The Sun's web site from 2007-2009. Dave's been writing about Bitcoin since 2011 - long before most people had even heard of it. He even mined it for a short time.
Dave has a BA in English and Mass Communications from Loyola University Maryland.