Bitcoin Magazine
IATSE Local 728 Becomes First Private-Sector Union to Invest in Bitcoin
IATSE Local 728, representing approximately 3,000 members of The International Alliance of Theatrical Stage Employees, Moving Picture Technicians, Artists and Allied Crafts across the United States, its territories, and Canada, has made a groundbreaking move by acquiring its inaugural Bitcoin investment, as announced in a press release to Bitcoin Magazine. This decision, which received significant support from its members, was carried out with the help of Proof of Workforce, a nonprofit organization committed to facilitating the educational integration of Bitcoin within union frameworks.
๐๐๐๐ ๐๐:
IATSE Local 728 adds bitcoin to the balance sheet, potentially becoming the first private sector union in the U.S. to hold Bitcoin!
Local 728 is a 3k member chapter of the 170k+ union behind entertainment
Lights
Camera
!! pic.twitter.com/eL4c5kJCCz
— Proof of Workforce (@workforcebtc) March 13, 2025
IATSE Local 728 has expressed a long-standing commitment to service, unity, and resilience. Their decision to invest in Bitcoin reflects their mission to advocate for the financial well-being of their members. โWe are making history today as the first private-sector labor union in the nation to add Bitcoin to our balance sheet and manage it in self-custody,โ announced the union. This significant endeavor was spearheaded by IATSE Local 728 Treasurer Pascal Guillemard, former Executive Board Member Jason Lord, and current Board Member David Graves, with collaborative efforts from Proof of Workforce founder Dom Bei.
Beyond benefiting its own members, IATSE Local 728 envisions this move as a transformative force within the labor movement at large. โFor far too long, unions have merely defended against a system that is rigged against workers. This changes now. With Bitcoin, we arenโt just negotiating contracts; we are pursuing economic liberation. Weโre not only setting a precedentโweโre taking decisive action. Weโre proving that unions do not merely contend for present needs; they are focused on laying foundations for a sustainable future.โ
In addition to maintaining Bitcoin on its balance sheet, a dedicated committee will be created to explore how Bitcoin can provide lasting security and benefits for the families of IATSE 728 members. This committee will also assist in integrating the unionโs support into the broader Bitcoin ecosystem.
Proof of Workforce commended IATSE 728โs proactive leadership in adopting Bitcoin as a vital financial reserve, stating, โAt Proof of Workforce, we recognize that every organization has a person who understands the remarkable potential of Bitcoin. Our objective is to equip that individual with tools to foster education-centric and responsible adoption within their organization. IATSE Local 728 epitomizes the Proof of Work that goes into creating some of the finest entertainment worldwide. Their members tirelessly work in the realms of motion picture and television lighting and are committed to maintaining the industryโs highest standards. They are now embarking on a journey to explore an innovative network that aligns perfectly with the values and work ethic of its members. Itโs officially Lights, Camera, Bitcoin!โ
As the pioneering private-sector union to incorporate Bitcoin into its financial framework, IATSE Local 728 is paving the way for other private-sector unions throughout the nation to follow suit.
Recently, Dom Bei announced he is campaigning for a position on the board of the California Public Employeesโ Retirement System (CalPERS), launching his initiative with robust endorsements, including support from California legislators and Vancouver Mayor Ken Sim.
This article IATSE Local 728 Becomes First Private-Sector Union to Invest in Bitcoin originally appeared on Bitcoin Magazine and was authored by Nik.
