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TIME Magazine to Hold Bitcoin in Reserve as New Partnership with Grayscale Announced

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Published on:
April 13, 2021

TIME has been one of the more enthusiastic outlets when it comes to digital assets in recent months.

TIME Magazine to Hold Bitcoin in Reserve as New Partnership with Grayscale Announced

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Grayscale has announced that it has entered into a partnership with TIME magazine to create a new series of videos explaining how the world of cryptocurrencies works.

 

The fund manager’s CEO, Michael Sonnenshein, also received that the publication — and its president Keith Grossman — are going to be paid in Bitcoin… and will hold the digital asset on their balance sheet.

 

TIME has been one of the more enthusiastic outlets when it comes to digital assets in recent months — and last month, it released a series of NFTs in celebration of some of its most memorable magazine covers. Included in the collection was the front page from a recent issue that posed the question: “Is fiat dead?”

 

The New York Times also jumped on the NFT bandwagon recently by auctioning off a tokenized version of one of its articles — raising hundreds of thousands of dollars for charity in the process.

 

When it comes to TIME, it’s also intriguing to note that the media group was recently looking for a new chief financial officer who has “comfort with Bitcoin and cryptocurrencies” — suggesting that the business may opt to get involved with digital assets more meaningfully in the years to come.

 

A Shift in Tone 

Overall, there has been a marked shift in tone when it comes to cryptocurrency coverage in mainstream media outlets over recent months.

 

Whereas Bitcoin used to be synonymous with hacks and cybercrime, the digital asset now regularly shares column inches with equities and commodities in Reuters’ market updates.

 

Bitcoin’s energy consumption has also come under the spotlight, with the likes of the BBC and Sky News in the U.K. running in-depth reports on how mining farms impact the climate.

Author(s)

Connor Sephton

I cover the crazy world of crypto.

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