TIME Magazine will release a series of videos on the Bitcoin industry in partnership with Asset Manager Grayscale. This was announced by the CEO of the company Michael Sonnenshine.
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
According to Sonnenschein, the videos will be released in the summer of 2021. TIME and its president, Keith Grossman, will receive payment in bitcoin.
The head of Grayscale noted that the magazine will not convert the first cryptocurrency to fiat and will leave it on the balance sheet. The parties did not disclose other details of the deal.
TIME previously posted a CFO vacancy with experience in a senior management position, versed in bitcoin and cryptocurrencies.
“The media industry is undergoing a rapid evolution. TIME is looking for a CFO to help transform”, – says the job description.
Once the terms of the deal are met, TIME will join the companies that hold bitcoin on their balance sheets. Analytics software provider MicroStrategy (91,579 BTC) tops the list, according to Bitcointreasuries.com. Next come electric car manufacturer Tesla (48,000 BTC) and payment company Square (8027 BTC).
Recall that in March 2021 TIME sold three of its own covers in the format of non-fungible tokens on the SuperRare marketplace for 241 ETH.
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