Legacy media establishment TIME Journal might be paid for a cryptocurrency video venture in bitcoin and maintain the asset on its steadiness sheet.
The CEO of digital forex funding agency Grayscale, Michael Sonnenshein, has introduced a partnership with TIME Journal to supply a video collection about cryptocurrencies, with the publication being paid in bitcoin and selecting to carry BTC on its steadiness sheet.
“Thrilled Grayscale is partnering with TIME on a brand new video collection coming this summer season explaining the crypto area,” Sonnenshein tweeted. “Equally as essential, [TIME Presiden] Keith Grossman and TIME has agreed to be paid in bitcoin — and can maintain the BTC on their steadiness sheet. A primary for our media partnerships!”
The New York-based publication lately indicated its leanings towards Bitcoin and different crypto property when it revealed that it was in search of to make use of a chief monetary officer that had “consolation with Bitcoin and cryptocurrencies.” Within the job itemizing, the publication cited the truth that its trade was present process an evolution and that it wanted the steering of a CFO who would assist it sustain.
“The media trade is present process a speedy evolution, TIME is in search of a Chief Monetary Officer who can assist information its transformation,” per the itemizing.
Other than this, the publishing home additionally had three of its covers bought as nun-fungible tokens (NFTs), one other indicator of the agency’s rising pro-crypto leanings.
Based on TheStreet Crypto, “TIME represents the primary legacy media model that can maintain bitcoin.”
Notably, the agency could be becoming a member of the likes of MicroStrategy, Tesla, Sq. and a number of different prime corporations that maintain bitcoin on their books. Many of those corporations imagine that the digital asset may function a hedge to guard them towards rising inflation.