California Senator endorses Bitcoiner for seat on $500b pension fund board

The Senator of the State of California, Ben Allen, envisages a new pro-Crypto representation with an approval of DOM Bei for the election to the public retirement board of the California Council.

Bei is the founder of the evidence of the workforce, a bitcoin (BTC) Non -profit focused on promoting the adoption of the BTC via educational initiatives targeting workers, unions and pension funds. He is in the race to join the retirement system of public employees of California, Calpers, as a member of the board of directors.

In particular, Calpers is the largest public pension fund in the United States with more than $ 500 billion and serves more than 2 million members of the public pension system. Calpers manages the retirement assets of the California police service, firefighters and teachers among others.

The pension fund also has more than 1.5 million people as members of its health program.

Calpers’ board of directors includes 13 members. The approval of Senator Allen could see Bei becoming the first defender of Bitcoin to be elected.

“I have devoted more than a decade to the defense of workers and employees. Now, I present myself for the Calpers board of directors to protect the largest public pension in our country, serving participants 2M and more, ”noted Bei in a job on X.

The former firefighter previously sat on the advisory council of the Santa Monica Pension Fund. His pro-bitcoin voice saw him obtain the support of several players in the industry.

According to the observers, the elections in Calpers will be crucial for the overall push of the adoption of the BTC between pensions and other platforms in the public sector. With his experience and as a Bitcoin holder, Bei could see the largest retirement fund in the United States exploring and potentially add the flagship digital asset to its participations.

Apart from Senator Allen, Bei has received approvals from more than a dozen state legislators. The mayor of Santa Monica, Lana Negrete, and the California treasurer candidate, Tony Vazquez, also spoke of his chances. Meanwhile, Anthony Poseliano, founder and chief executive officer of Professional Capital Management, also added His support.

In 2024, several pension and endowment funds revealed an exposure to Bitcoin, which is in the rapid adoption which followed the approval by the Securities and Exchange Commission of the first Spot of funds negotiated in exchange for the BTC. They include state pension funds and several university endowment funds.