Grayscale is teaming up with Time magazine for a partnership that will see the famous magazine paid in bitcoin.
The confirmation comes directly from CEO Michael Sonnenshein in a tweet:
— Michael Sonnenshein (@Sonnenshein) April 12, 2021
According to Grayscale’s CEO, a cryptocurrency-themed video series will be published in Time, curated by Grayscale. But the other tasty tidbit that emerges from the tweet is that Time, for this disclosure, will be paid in bitcoin.
This way, Time will also have bitcoin on its balance sheet.
Time could not have chosen a better moment, as bitcoin today hit a new all-time high of $63,000.
Bitcoin and Time, the relationship between the magazine and cryptocurrencies
Time appears to be increasingly receptive to the crypto space. In recent days, it has also entered the NFT market, turning three covers into non-fungible tokens.
In addition, the magazine has recently opened up to cryptocurrency payments for its subscriptions.
Time has become another big name joining the crypto industry. Yet it is still a niche. As Tyler Winklevoss pointed out in a tweet, there are currently 40,000 companies listed on the stock exchange, but only 32 of them have bitcoin on their balance sheet. In short, Time (which is not listed) is an outlier.
What is certain is that the partnership with Grayscale is likely to have a significant dissemination effect. Time has millions of readers around the world who will now be potentially exposed to videos on Bitcoin and cryptocurrencies.
At a time of market hype, this initiative is also very useful to prevent those who get caught up in FOMO (fear of missing out) from making mistakes.
After all, as Anthony Pompliano commented on the partnership between Time and Grayscale:
“Bitcoin is inevitable”.