Time, the world’s most famous magazine, has now announced its support for Bitcoin after the NFT step. Time will buy BTC. Users will also be able to subscribe to the journal with BTC.
TIME Magazine, one of the world’s most respected political and news magazines, took a historic step towards adopting Bitcoin, as announced by Grayscale CEO Michael Sonnenshein on April 12th.
Michael Sonnenshein reports that TIME magazine has made a series of attempts at Bitcoin. Sonnenshein announced in a statement that TIME has partnered with Grayscale to release a series of educational cryptocurrency videos, primarily to be released this summer. However, TIME will keep Bitcoin as its reserve currency on its balance sheet, joining giant companies such as MicroStrategy and Tesla that hold BTC as reserve currency.
Finally, Keith Grossman, who has been TIME President since July 2019, will be paid in Bitcoin.
In the latest and most important development, TIME magazine announced that they have hired a new CFO that knows Bitcoin well and will now accept payments in Bitcoin for TIME subscriptions.
Last March, Justin Sun, founder of the Tron Foundation, bought one of TIME magazine’s second series cover NFT, which converted many of its magazine covers into NFT and put them up for sale on the NFT market OpenSea.