dailyhodl.com
Time Magazine is bringing Bitcoin and crypto assets one step closer to mainstream adoption.
In a new tweet, Michael Sonnenshein, head of crypto investment giant Grayscale, says that the firm is teaming up with the iconic 98-year-old media publisher to produce a video series about the crypto space.
Sonnenshein adds that Time and its board member Keith Grossman have agreed to be paid in the largest cryptocurrency, allowing the publishing giant to hold BTC in its balance sheet.
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
Established in 1923, the current affairs magazine is published biweekly with more than 20 million subscribers worldwide. It is believed to be the first legacy media brand to hold Bitcoin on its balance sheet.
Time’s partnership with Grayscale is not the company’s first involvement with the crypto industry.In March, the media firm sold three of its covers as non-fungible tokens (NFTs) with one, in particular, commanding 135 ETH (Ethereum) worth nearly $250,000.
Late last month, Time owner Marc Benioff invested in Chainalysis, a blockchain analysis company, through his investment fund TIME Ventures. Benioff’s participation contributed to a $100 million Series D funding that propelled the valuation of Chainalysis to over $2 billion.
In addition, Time has also been spotted putting up a job posting that lists “comfort with Bitcoin and cryptocurrencies” as one of the qualifications for its new chief financial officer.