Ian Calderon Runs for California Governor, Pledges Bitcoin Policy Focus
- Bridget Hubbard
- September 24, 2025
- Legal
- 0 Comments
California’s Bitcoin Governor Candidate
Ian Calderon, a former Democratic majority leader in the California State Assembly, has officially entered the governor’s race with a platform that places Bitcoin at the center of his policy vision. In his announcement on Tuesday, Calderon framed his candidacy as a return to California’s technological roots, arguing the state should reclaim its position as an innovation leader through cryptocurrency adoption.
“My generation pays bills on our phones, we send money to each other with Venmo and we save in Bitcoin,” Calderon said in a campaign video that contrasted his approach with what he called “yesterday’s ideas” from current leadership. The statement reflects a growing trend of cryptocurrency becoming a legitimate political issue rather than just a niche technology concern.
From Assembly to Crypto Advocacy
Calderon’s Bitcoin stance isn’t new or superficial. After leaving the Assembly in 2020 following three terms, he remained active in policy circles, including work with the Satoshi Action Fund in 2022 that explored making Bitcoin legal tender in California. His cryptocurrency credentials date back to 2018 when he authored AB 2658, which established California’s Blockchain Working Group.
That legislation created the framework for evaluating blockchain technology’s uses, risks, and benefits for state government and businesses. The working group eventually developed policy recommendations that included potential amendments to state law. Calderon is also listed as a contributor to the group’s 2020 roadmap, giving him substantive policy experience that backs his current campaign promises.
The Balance Sheet Proposal
Perhaps the most ambitious part of Calderon’s platform is his commitment to have California hold Bitcoin on its state balance sheet. In a livestream announcing his candidacy, he confirmed he would “make sure that we hold Bitcoin on our balance sheet” and support cryptocurrency payments for state programs if elected.
This represents a significant departure from current legislative efforts in California. The state is currently considering two cryptocurrency-related bills—AB 1180, which would allow state agencies to pilot stablecoin payments for fees starting in 2026, and AB 1052, which brings cryptocurrency under California’s unclaimed property laws. Neither measure authorizes the state to purchase or hold Bitcoin directly.
Political Implications and Challenges
Robert Boris Mofrad, co-founder of blockchain data storage firm Serenity, sees Calderon’s campaign as evidence that cryptocurrency has entered mainstream political discourse. “Candidates are now openly running on pro-crypto platforms and competing with one another,” Mofrad noted.
But he also highlighted the practical challenges of Calderon’s balance sheet proposal. Governments typically treat Bitcoin as an intangible asset, which creates accounting complexities. “They must record every loss in value but cannot really record gains,” Mofrad explained, making it “hard for a state treasury to manage responsibly.”
Still, the very fact that a serious gubernatorial candidate is proposing such measures indicates how far cryptocurrency has come in political acceptance. Whether California voters will embrace this vision remains uncertain, but Calderon’s campaign ensures that Bitcoin policy will be part of the conversation in the 2026 governor’s race.
The proposal is particularly notable given California’s economic stature. As the world’s fifth-largest economy, any move by the state toward Bitcoin adoption would carry significant weight in global financial markets. Calderon’s campaign represents perhaps the most substantial test yet of whether cryptocurrency can transition from investment asset to government policy tool.
