TLDR
- Ian Calderon vows to put Bitcoin on California’s balance sheet if elected governor.
- Calderon promises to support crypto payments for state programs, boosting adoption.
- His campaign focuses on technology, with Bitcoin central to California’s future.
- Calderon’s proposal follows a trend of growing support for crypto-friendly policies in the state.
Ian Calderon, former majority leader of the California Assembly, has officially entered the race for governor with a bold promise to put Bitcoin at the forefront of state policy. Calderon, who has long been an advocate for blockchain technology and cryptocurrencies, aims to make California the undisputed leader in the digital asset space.
In his announcement, Calderon vowed to hold Bitcoin on California’s balance sheet and support crypto payments for state programs. This pledge is part of his larger strategy to leverage California’s technological prowess and position the state as a global leader in cryptocurrency and blockchain innovation.
A Proponent of Bitcoin and Crypto Integration
Calderon’s stance on Bitcoin is not new. Throughout his political career, he has championed digital assets, including his involvement in the California Blockchain Working Group and work with the Satoshi Action Fund.
In 2022, Calderon worked with the Satoshi Action Fund to explore legislation that would consider Bitcoin as legal tender in California. His vision is clear: to integrate Bitcoin into the state’s financial systems and infrastructure.
“I’m committed to putting Bitcoin on California’s balance sheet,” Calderon said in his campaign video. “Once I’m elected, California will use Bitcoin as a way to pay for state programs and services.”
Building on a Strong Technological Foundation
As California’s previous Assembly majority leader, Calderon has a track record of working on blockchain and cryptocurrency policy. In 2018, he authored AB 2658, which established the California Blockchain Working Group to explore the technology’s uses, risks, and potential benefits for the state.
Calderon’s long-standing interest in blockchain technology positions him as a forward-thinking candidate who believes in the transformative potential of digital assets.
His focus on Bitcoin is not just about embracing a trending technology, but also about solving modern issues with innovative solutions. Calderon believes that crypto, and Bitcoin specifically, can help California tackle its financial challenges while also enhancing financial inclusion.
Challenge of Bitcoin as a State Asset
Calderon’s campaign marks a significant moment for California’s political landscape, especially in terms of its approach to cryptocurrency. While there has been some movement in the state towards crypto integration, such as the recent passage of AB 1180, which allows state agencies to accept stablecoin payments, Calderon’s proposal goes further.
His plan to put Bitcoin on the state’s balance sheet would make California one of the first U.S. states to hold Bitcoin directly.
However, this is not without its challenges. Governments typically treat Bitcoin as an intangible asset and face difficulty in managing its volatility. While this proposal may be seen as ambitious, it also signals a shift towards more progressive and tech-savvy policies in government. If implemented, it would make California a leader in the digital asset space, aligning with the state’s historical role as a technology hub.
Political Landscape and Calderon’s Competition
While Calderon’s proposals are bold, he faces a crowded field in the race for governor. California will hold its gubernatorial election in 2026, and Calderon, though a prominent figure, faces tough competition from established candidates like former Congresswoman Katie Porter and Sheriff Chad Bianco.
Despite being a long shot, Calderon’s entry into the race signals the increasing importance of cryptocurrency and blockchain in mainstream political discourse.
As more politicians embrace crypto, it is clear that digital assets are becoming an integral part of future policy discussions, with Calderon at the forefront of that movement in California.
