Another listed company holding Bitcoin! Grayscale CEO reveals that "Time Magazine" will buy Bitcoin.

Grayscale CEO Michael Sonnenshein revealed today that Time magazine will accept Bitcoin as a payment method and will hold Bitcoin on its balance sheet.

Is Time Magazine Buying Bitcoin?

Michael Sonnenshein, CEO of digital asset management company Grayscale, revealed on Twitter today that Grayscale has officially partnered with Time Magazine. In addition to collaborating to launch a series of cryptocurrency market-related videos this summer, Keith Grossman, CEO of Time Magazine, has agreed to accept Bitcoin as a payment tool and will hold a certain amount of Bitcoin on the balance sheet. This means that the company will join the ranks of U.S. publicly listed companies such as MicroStrategy, Tesla, Square, and Meitu, which hold Bitcoin as a corporate reserve asset.

Thrilled @Grayscale is partnering w/ @TIME on a new video series coming this summer explaining the #crypto space.

Equally as important, @KeithGrossman & @TIME has agreed to be paid in #Bitcoin – and will hold the $BTC on their balance sheet. A first for our media partnerships!

— Sonnenshein (@Sonnenshein) April 12, 2021

Time Magazine and Cryptocurrency

After entering 2021, Time Magazine's interest in cryptocurrency seems to be growing. In March of this year, Time Magazine deployed some of its classic magazine covers as NFT tokens and auctioned them on the NFT platform OpenSea.

Keith Grossman stated in an interview at that time:

"The red border of Time Magazine is our most iconic design, and expanding into the NFT market with our existing physical and digital products is a very natural business extension."

In addition, Grossman had previously revealed plans to offer cryptocurrency payments for subscription users and even emphasized in the newly released CFO recruitment information that candidates must not only have general financial expertise but also be open to Bitcoin and cryptocurrencies.