BUSINESS | April 14, 2021 | WOZINGA NEWS
TIME Magazine adverts to cryptocurrency
- TIME Magazine will hold Bitcoin on its balance sheet.
- Grayscale and TIME will create a new academic crypto video sequence.
By Marielle Petere Wozinga Journalist
TIME Magazine will proceed to hold Bitcoin on its balance sheet. Also, TIME plans to make an academic video sequence on crypto and accept Bitcoin as a cost.
TIME and Grayscale partnership
Michael Sonnenshein, the CEO of Grayscale, announced on Monday through Twitter that TIME has partnered with Grayscale to create a new academic crypto video sequence this summer.
Thrilled @Grayscale is partnering w/ @TIME on a new video series coming this summer explaining the #crypto space. Equally as important, @KeithGrossman & @TIME has agreed to be paid in #Bitcoin – and will hold the $BTC on their balance sheet. A first for our media partnerships!
— Michael Sonnenshein (@Sonnenshein) April 12, 2021
However, Sonnenshein did not give any information on how much the publishing firm and TIME president Keith Grossman will be paid in Bitcoin. Also, there is no exact detail when the firm will hold Bitcoin on its balance sheet.
According to the announcement of the Grayscale CEO, TIME will utilize three main actions: First, it is the academic video sequence on crypto. Second, the firm will hold Bitcoin on its balance sheet. Third, Grossman and TIME will be paid in Bitcoin.
For this case, TIME’s decision to maintain Bitcoin on its balance sheet might be the first of many outstanding media manufacturers. Further, the publishing firm will proceed to carry Bitcoin on its stability sheet as an alternative to instantly changing the cryptocurrency into fiat.
Jumping on the non-fungible token craze, TIME launched three NFTs for auction, and TRON CEO Justin Sun. purchased one of TIME’s NFTs covers worth $200,000.