It was only a matter of TIME.
One of the most recognizable publications in the world, TIME Magazine will now be receiving some payments in , according to Grayscale CEO Michael Sonnenshein. What’s more, unlike some people, it won’t be immediately converting that crypto to fiat.
“Thrilled @Grayscale is partnering w/ @TIME on a new video series coming this summer explaining the #crypto space,” Sonnenshein tweeted today. “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!”
TIME President Grossman retweeted the news, blessing the partnership over Twitter.
is a cryptocurrency asset manager that holds over 3% of the Bitcoin in circulation via its Grayscale Bitcoin Trust. No further details were available regarding its TIME partnership.
TIME won’t be the first non-crypto company to keep Bitcoin on its balance sheet. Cloud software company MicroStrategy and payment processing firm Square pioneered that approach. When electric automaker Tesla bought $1.5 billion in Bitcoin earlier this year, it announced in SEC filings that it may keep any Bitcoin it receives for car purchases. It has since confirmed that strategy.