TIME Magazine Hops on Bitcoin Train With Grayscale Partnership

TIME Magazine has rolled out a plan to create educational video series on cryptocurrencies in partnership with Grayscale.

The CEO of Grayscale, Michael Sonnenshein, disclosed the new development on Twitter.  

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

Creating Educational Crypto Video Series 

The partnership between Time Magazine and Grayscale is borne out of the idea of enlightening crypto enthusiasts through new educational video series on cryptocurrency.

The tweet shows that the new video series will be rolled out later this summer, stressing that the video will provide a full explanation of the crypto space. 

Similarly, Sonnenshein revealed that Time Magazine has agreed to receive Bitcoin payment and hold BTC on its balance sheet. This also applies to Time’s President, Keith Grossman.

The age-long media agency will produce the new video series.

The new deal shows that Time Magazine has joined the league of companies holding BTC and incorporating the digital asset on their balance sheets.

MicroStrategy, Tesla Inc., Square, and others are some of the companies that have embraced BTC in recent times. 

A couple of weeks ago, TIME posted a job searching for a new Chief Financial Officer (CFO) with a clear criterion that the applicant must be comfortable with BTC and other cryptocurrencies.

This implies that the company has nurtured interests in the crypto space for some time now. Similarly, the company later sold three of its covers as NFTs on SuperRare.

Rise of Leading US Companies In Crypto Space

More than any other time, leading US companies are increasingly delving into the cryptocurrency space.

A couple of weeks ago, the Chief Executive Officer (CEO) of Tesla, Elon Musk, opened up Bitcoin payments for Tesla sedans. 

You can now buy a Tesla with Bitcoin

— Elon Musk (@elonmusk) March 24, 2021

While the Bitcoin payment option is only available in the US for now, the Billionaire CEO assured members of the public that it would soon be extended to other countries.

Meanwhile, the company also invested about $1.5 billion in BTC despite the digital asset being classified as highly volatile.

More importantly, Musk explained that Tesla’s Bitcoin income from car sales wouldn’t be converted to cash. 

Apart from the giant stride of Tesla, Time Magazine has also upped its activities in the crypto space by auctioning three covers of its magazine as non-fungible Tokens (NFTs).

Times’ policy accelerated the demand for digital currency and art. The title of the first cover was dubbed “Is Fiat Dead?” Many believe that it was an attempt to boost digital currencies. 

Before now, Time Magazine had published an article on why BTC was essential on the journey to financial freedom. 

The piece generated a series of reactions, with Alex Gladstein saying that it is indeed an alternative money system and a way of overcoming economic control.