TIME Magazine will be holding bitcoin on its balance sheet, the company’s president has confirmed. TIME is also partnering with Grayscale Investments to produce a video series on cryptocurrency and has agreed to be paid in bitcoin.
TIME Magazine Will Hold Bitcoin on Balance Sheet
TIME Magazine has partnered with Grayscale Investments to produce a crypto video series. The company will be paid in bitcoin and has committed to keeping the cryptocurrency on its balance sheet.
Founded in 1923, TIME Magazine provides guides for current affairs, politics, business, health, science, and entertainment. Published biweekly, the company says every week over 20 million subscribers worldwide turn to its magazine for exclusive coverage.
Grayscale CEO Michael Sonnenshein tweeted Monday explaining that the videos explaining the crypto space will come out in the summer. He also confirmed that Keith Grossman, President of TIME, has agreed to take his payment in bitcoin and will hold BTC on the balance sheet.
A growing number of companies are embracing bitcoin, adding the cryptocurrency to their balance sheets. TIME Magazine joins major companies with bitcoin treasuries, including Elon Musk’s Tesla, Jack Dorsey’s Square Inc., and Michael Saylor’s Microstrategy.
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