IATSE Local 728, with 3,000 members, has made history by becoming the first private sector labor union in the U.S. to invest in Bitcoin. This decision aligns with the union's mission of ensuring financial security for its members and was made with overwhelming support from its membership. Led by Treasurer Pascal Guillemard and aided by the nonprofit Proof of Workforce, this initiative places Bitcoin on the union's balance sheet. The union believes this investment will enhance its focus on innovation and empowerment within the financial landscape of its workforce.
"IATSE Local 728 has led the entertainment industry in safety, technology, and training since 1939. Our members have been the proof of work behind the greatest productions in history-now, we're bringing that same innovation to finance."
"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."
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