TIME Magazine is the next big company to hold bitcoin (BTC) in partnership with Grayscale

Grayscale Investments, the major cryptocurrency asset management company, is partnering with the well-known TIME magazine. The two US companies will jointly produce a series of educational videos about crypto. Michael Sonnenshein, CEO of Grayscale, announced the news on April 12 via Twitter:

“I am delighted that Grayscale is collaborating with TIME on a new video series that will be released this summer explaining the crypto sector. Just as importantly, Keith Grossman & TIME have agreed to be paid in Bitcoin, and will keep the BTC on their balance sheet. A first for our media partnerships! ”

As can be read, Sonnenshein reports that Keith Grossman, president of TIME, as well as TIME itself, will be paid in bitcoin (BTC) and will hold it. With this, TIME follows in the footsteps of companies such as Tesla and MicroStrategy that now keep bitcoin in their reserves.

According to data from Bitcointreasuries.org, a list of companies that have bitcoin on their balance sheet, TIME will become the 33rd company to hold bitcoin for the long haul and the first major media company.

According to BTCtreasuries, institutions have acquired 46,318 bitcoin in the past 12 days. Nearly $ 3 billion. ”

TIME is one of the most popular US weekly news magazines with over 20 million subscribers around the world. The “Person of the Year” articles of the 98-year-old newspaper are perhaps his best known.

TIME auctioned a few more of its well-known front pages as non-fungible tokens (NFTs) in March. According to a vacancy, the newspaper is also looking for a chief financial officer who is familiar with crypto. Grayscale now manages $ 47.7 billion in crypto: