TIME Magazine is officially adding bitcoin to its balance sheet and teaming up with Grayscale Investments to create a crypto-focused video series. The move signals a deepening embrace of digital assets by one of the world’s most recognized media brands.
TIME Magazine’s Bitcoin Treasury Strategy
Keith Grossman, President of TIME Magazine, confirmed that the company will accept bitcoin as payment and commit to holding the cryptocurrency on its balance sheet rather than converting it to fiat currency. This decision aligns TIME with a growing list of corporate bitcoin adopters, including Tesla, Square, and Microstrategy.
Founded in 1923, TIME reaches over 20 million subscribers globally across its print and digital editions. The company covers current affairs, politics, business, health, science, and entertainment. Its foray into bitcoin represents a significant endorsement of cryptocurrency as a legitimate asset class.
Partnership with Grayscale Investments
Grayscale CEO Michael Sonnenshein announced via social media that the two organizations will collaborate on a series of educational videos explaining the cryptocurrency space, set to launch in the summer. Grossman has agreed to take his compensation in bitcoin and retain the BTC on TIME’s balance sheet.
“Keith Grossman has agreed to take his payment in bitcoin and will hold BTC on the balance sheet,” Sonnenshein tweeted. Grayscale is the world’s largest digital currency asset manager, overseeing billions in assets under management, including the popular Grayscale Bitcoin Trust (GBTC).
The Corporate Bitcoin Wave
TIME joins a roster of major companies that have added bitcoin to their treasuries. Tesla purchased $1.5 billion worth of bitcoin in early 2021; Square holds roughly 8,000 BTC; and Microstrategy has invested billions over time. These firms view bitcoin as a hedge against inflation and a store of value.
By holding bitcoin, TIME Magazine not only diversifies its balance sheet but also enhances the credibility of cryptocurrency in mainstream business. Analysts suggest that media involvement could accelerate public understanding and acceptance of digital assets.
Looking Ahead
The upcoming video series is expected to demystify crypto for TIME’s broad audience. For Grayscale, the partnership provides access to a massive readership base. This collaboration may pave the way for more media companies to accept and hold bitcoin, further integrating digital currency into the global economy.
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