IATSE Local 728 First US Private-Sector Union to Purchase Bitcoin

Published on 3/13/2025, 3:53:32 PM

On the grand stage of labor union history, the spotlight now shines brightly on IATSE Local 728 - the International Alliance of Theatrical Stage Employees, Moving Picture Technicians, Artists and Allied Crafts of the United States, Its Territories and Canada. This star-studded union of 3000 members, known for its unwavering dedication to service, strength, and solidarity, has just delivered a showstopper by becoming the first private-sector labor union in America to not only invest in Bitcoin – the digital currency revolutionizing the financial world - but to also hold it in self-custody, according to an announcement sent to Bitcoin Magazine.

Placing this groundbreaking move on a larger canvas, remember that this luminous union is not a newcomer on the scene. It has been dazzling the entertainment industry with its pioneering strides in safety, technology, and training since 1939. The union members have been the unsung heroes, the real 'proof of work' behind some of the most spectacular productions in history. In this daring foray into the realm of cutting-edge finance, they are bringing their robust legacy of innovation to bear.

This momentous decision, which has been heartily approved by the majority of its membership, was no spontaneous act. It was thoughtfully executed in close collaboration with Proof of Workforce, a non-profit organization dedicating its efforts to help unions understand and adopt Bitcoin through education-centric initiatives. The starring cast leading the initiative comprised the union's treasurer, Pascal Guillemard, and esteemed board members David Graves and Jason Lord, alongside Dom Bei, the founder of Proof of Workforce.

Against the backdrop of a world where governments print money at will and financial institutions often erode workers' wage value, the union stakes a claim for protecting its members' labor value by embracing Bitcoin. This digital asset, beyond being a potential goldmine, is also seen as the world's most secure and decentralized financial network - immunized against any form of manipulation and inflation. The union insists this strategic move isn't a risky gamble but a carefully considered plan - a bold step towards long-term financial security and labor empowerment.

Furthermore, IATSE Local 728 dreams big - it positions this bold Bitcoin move as a potential ignition point for a larger transformation within the labor movement. The union is challenging traditional notions, postulating that integrating Bitcoin into the financial ecosystem is not just about bargaining contracts, but also about securing economic freedom for workers. By future-proofing their financial strategies, they are suggesting a restful sleep for all union members today and a secure tomorrow for their families.

The action plan doesn't stop with having Bitcoin on the balance sheet. A dedicated committee will also be established to delve deeper into how Bitcoin can provide sustained financial security for IATSE 728 members and their families. The committee's responsibilities will also include ensuring smooth integration of the union’s support within the Bitcoin network.

Proof of Workforce, in celebrating IATSE 728’s leadership in pioneering Bitcoin's role as a reserve asset, commended their courage and vision to expose their members to an innovative financial network that mirrors their own values.

With the legendary union now exclaiming, "Lights, Camera, Bitcoin", the hope is for a domino effect that inspires other private-sector unions across the U.S to innovate and adapt for the financial wellbeing of their members. This is not just a new act; it's the beginning of a whole new era in the exciting saga of labor unions.

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