TIME magazine partnered with Grayscale to present a series of educational crypto videos and agreed to pay with Bitcoin.
Institutional fund manager Grayscale partnered with renowned New York-based magazine TIME to produce an educational video series on crypto assets.
What does the partnership bring?
The partnership was announced in April by Grayscale CEO Michael Sonnenshein, and Sonnenshein announced that TIME and its president, Keith Grossman, will receive the payment in Bitcoin.
In addition, TIME does not intend to convert the Bitcoin it bought through the agreement to fiat and will keep the crypto asset on its balance sheet. More details of the partnership have not been disclosed so far.
According to Bitcointreasuries.com, TIME will be the 33rd public company to keep Bitcoin on its balance sheet. TIME joined Microstrategy, the top US companies that have invested billions in BTC since August 2020, Square, which added 4,709 BTC to its treasury in October, and Tesla, which bought $ 1.5 billion worth of BTC in January. Multinational investment firm Blackrock also started dealing with crypto in February and made more than $ 360,000 profit from a small long-term transaction using Bitcoin futures.