California State Senator Ben Allen has endorsed Dom Bei for election to the board of the largest pension fund in the US, CalPERS. Bei is known as the founder of the non-profit Proof of Workforce and actively promotes Bitcoin adoption through educational initiatives.
Who is Dom Bei?
Dom Bei is the founder of the non-profit organization Proof of Workforce, focused on promoting Bitcoin among workers, unions, and pension funds. Bei is running to become a board member of CalPERS.
CalPERS' Role and Bei's Goals
CalPERS is the largest public pension fund in the United States, managing over $500 billion in assets and serving more than 2 million members, including police officers, firefighters, and teachers. Bei hopes to use his knowledge and experience to promote Bitcoin within pension structures, including potentially adding Bitcoin to the fund's assets.
Support and Expectations
Bei has broad support, including endorsements from more than a dozen legislators and notable figures such as Santa Monica Mayor Lana Negrete. He is also supported by California treasurer candidate Tony Vazquez and entrepreneur Anthony Pompliano. This highlights the growing interest in Bitcoin among various pension and endowment funds, especially following the SEC's approval of the first Bitcoin-based exchange-traded funds.
Bei's election to the CalPERS board could be a significant step in promoting Bitcoin among large public funds. With his experience and support, he could play a key role in this process.
