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TIME magazine, the 98 year-old publication,to Add Bitcoin to its Balance Sheet and more

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Shivangi Mujumdar

CBW -External Analyst

INDIA

Apr, 19 2021

Apr, 19 2021

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Keith Grossman and TIME has decided to be paid in bitcoin. It will hold the $BTC on their balance sheet. A major for our media partnerships! 

 

Grayscale offers crypto to join hands with current New York-based magazine TIME to form a variability of educational videos on cryptocurrencies. 

 

This agreement will see TIME Magazine and its CEO, Keith Grossman, begin accepting payment in BTC. 

 

TIME aims to hold the BTC it accepts and add the crypto asset to its balance sheet. 

 

Separately from adding BTC to its balance sheet, TIME also bid three NFTs in March. 

 

The collaboration was declared by Grayscale’s CEO, Michael sonnenshein, who also identified that TIME and Keith Grossman, president of the media outlet, will be funded in Bitcoin. 

 

Moreover, TIME does not aim to exchange the salaried Bitcoin into fiat and aims to retain the cryptos on its balance sheet. Additional details concerning the collaboration are yet to be revealed. 

 

As per Bitcointreasuries.com, TIME is the 33rd registered enterprise to possess Bitcoin in its Treasury (balance sheet). TIME has combined the list of top US firms such as Microstrategy, which has invested billions in Bitcoin since August 2020, Square, which accepted 4,709 Bitcoins in October 2020, and Tesla, which learned $1.50 billion worth Bitcoin in January. 

 

Related news 

 

Michael sonnenshein, the CEO of Grayscale, proclaimed currently through Twitter that TIME Magazine has united with Grayscale to generate a new educational crypto video series. The series will be complete by the nearly 100-year-old publication and is set to come out this summer. 

 

TIME will be rewarded in Bitcoin and the company will last to hold Bitcoin on its balance sheet. The company will now link the likes of Tesla (TSLA), MicroStrategy (MSTR), Square (SQ) and others who hold Bitcoin on their stability sheets as a store of value assets. 


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Shivangi Mujumdar

CBW - External Analyst

INDIA

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