Democrat Ian Calderon, former majority leader in the California Assembly, officially launched his candidacy for state governor with the proposal to make Bitcoin a central pillar of his political platform.

In a post on X (formerly Twitter) last Tuesday, he declared:

“California has always been at the forefront of technological innovation. The time has come to reclaim that role and make the state the world's leading reference in Bitcoin.”

Calderon has shown himself to be a strong enthusiast of Bitcoin and, during a live broadcast on the same day as the announcement, stated that, if elected, he intends to “put Bitcoin on the state’s balance sheet” and also allow state programs to accept payments in cryptocurrencies.

In another campaign video, he made a direct contrast with how the government currently operates:

"My generation pays bills on their phones, transfers money via Venmo, and stores value in Bitcoin," Calderon emphasized. "Meanwhile, those in charge of the government insist on outdated solutions to deal with current problems — and that clearly doesn't work."

"Ambitious and bold"

Calderon's statements are not without weight or work behind them.

After leaving the Assembly in 2020, after three terms, he remained active in the political space, including a job with the Satoshi Action Fund in 2022 that explored legislation to consider Bitcoin as legal tender in the state. Calderon is also cited as a contributor to a 2020 script developed by the California Blockchain Working Group, a forum that produced policy recommendations on digital assets.

Long before, in 2018, Calderon was the author of bill AB 2658, which created the California Blockchain Working Group to assess the uses, risks, benefits, and legal implications of the technology for state government and businesses, define blockchain in legislation, and develop policy recommendations, including possible amendments to state law.

Calderon's position "shows that cryptocurrencies have entered the mainstream, because candidates are now openly advocating for pro-crypto platforms and competing against each other," said Robert Boris Mofrad, co-founder of the blockchain data storage company Serenity, to Decrypt.

However, whether the position will be adopted or accepted "by the masses" remains uncertain, Mofrad noted. "But what we can understand is that crypto is now a serious part of the political conversation, one that started at the federal level with the idea of creating a reserve."

"Putting Bitcoin on California's balance sheet is a pretty ambitious and bold position," Mofrad said. "When it comes to a state like California, the fifth-largest economy in the world, the situation is different."

This is because governments "generally treat Bitcoin as an intangible asset" and need to "record every loss in value, but cannot really record gains," making these proposals "difficult for a state treasury to manage responsibly," he added.

California and crypto

Calderon's campaign comes as California assesses incremental legislation on crypto through two main legal milestones.

AB 1180 would allow certain state agencies to test payments in stablecoins for fees starting in 2026, while AB 1052 brings cryptocurrencies into state law on unclaimed property, requiring inactive custodial accounts to be transferred to the state and kept in their original form.

None of the measures, however, authorize California to buy or hold Bitcoin directly, marking a clear distinction from Calderon's proposal.