Time Magazine Joins Tesla Camp and Prepares to Add Bitcoin to Its Balance Sheet
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Life is short, so appreciate the good times and beautiful scenery and don’t waste it. (It was only a matter of TIME). According to Decrypt on April 13, Time magazine is one of the most well-known publications in the world. Grayscale CEO Michael Sonnenshein said that Time magazine will now accept some Bitcoin payments. More importantly, unlike some companies, it will not immediately convert the received cryptocurrency into fiat currency. Sonnenshein tweeted today: We are excited that Grayscale will be partnering with TIME Magazine to launch a new video series this summer explaining the cryptocurrency space. Just as importantly, Keith Grossman and TIME Magazine have agreed to be paid in Bitcoin and will place Bitcoin on the balance sheet of TIME Inc. This is our first time working with a media outlet! Time magazine president Grossman retweeted the news and blessed the partnership on Twitter. Grayscale, a cryptocurrency asset manager that owns more than 3% of all bitcoin in circulation through its Grayscale Bitcoin Trust, did not disclose any further details about its partnership with Time. Time Magazine would not be the first non-cryptocurrency company to include Bitcoin on its balance sheet. Cloud software company MicroStrategy and payment processing company Square have pioneered this approach. Earlier this year, electric car maker Tesla purchased $1.5 billion worth of Bitcoin. The company announced in a filing with the U.S. Securities and Exchange Commission (SEC) that it may keep the Bitcoin used by customers to pay for cars. The company has since confirmed this strategy. Original text: https://decrypt.co/66263/time-joins-tesla-keeping-bitcoin-balance-sheet By Jeff Benson Compiled by Captain Hiro |
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