**Meta:** IATSE Local 728 makes history by investing in Bitcoin, marking a significant step for labor unions in financial security.
**Content:**
### IATSE Local 728 Invests in Bitcoin: A Historic Move for Labor Unions
**Who:** IATSE Local 728, a chapter of The International Alliance of Theatrical Stage Employees
**What:** The union has made its first Bitcoin investment.
**When:** The decision was recently approved by its membership.
**Where:** The investment is held in self-custody.
**Why:** To enhance financial security for its members.
IATSE Local 728, representing 3,000 members, has made a groundbreaking decision by purchasing Bitcoin as its first investment. This initiative received overwhelming support from its members and was facilitated by Proof of Workforce, a nonprofit organization focused on educating unions about Bitcoin.
### Commitment to Financial Security
The union emphasized its long-standing commitment to service, strength, and solidarity. By investing in Bitcoin, IATSE Local 728 aims to secure financial stability for its members. “Today, we make history as the first private-sector labor union in the country to put Bitcoin on our balance sheet and hold it in self-custody,” the union stated.
### Leadership and Collaboration
The initiative was spearheaded by IATSE Local 728 Treasurer Pascal Guillemard, former Executive Board Member Jason Lord, and current Board Member David Graves, in partnership with Proof of Workforce founder Dom Bei. The IATSE Local 728 Bitcoin Advisory Board remarked, “Our members have been the proof of work behind the greatest productions in history—now, we’re bringing that same innovation to finance.”
### A New Era for Labor Unions
IATSE Local 728 views this investment as a catalyst for change within the labor movement. The union stated, “For too long, unions have played defense in a system rigged against workers. That ends now. With Bitcoin, we aren’t just negotiating contracts; we are securing economic freedom.”
– IATSE Local 728 is the first private-sector labor union to hold Bitcoin on its balance sheet.
– A standing committee will be established to explore long-term security for members and their families.
### Conclusion
This strategic move not only protects the value of members’ labor but also positions IATSE Local 728 as a leader in the labor movement. How will this investment in Bitcoin influence the future of labor unions?
**FAQs:**
**Q: What is the significance of IATSE Local 728’s Bitcoin investment?**
A: The investment marks the first time a private-sector labor union in the U.S. has added Bitcoin to its balance sheet, aiming to enhance financial security for its members.
