The Crypto Revolution Gets Mainstream Media Love
In a move that feels like your grandma finally learning to use emojis, Time Magazine has included two heavyweight contenders in the world of crypto—Digital Currency Group (DCG) and Coinbase—in its prestigious list of the 100 Most Influential Companies of 2021. The shockingly un-shocking development comes as these companies continue to make waves in an industry that’s been a rollercoaster ride since Satoshi Nakamoto dipped his digital toe into the waters of currency.
DCG: The Disrupter of Demystifying Crypto
Digital Currency Group finds itself lounging in the Disrupter category of Time’s elite lineup, rubbing shoulders with the likes of Tesla and Shopify. By nurturing a slew of subsidiaries, including the asset manager Grayscale and crypto news hub CoinDesk, DCG is stepping up to transform crypto from a mysterious ordeal for investors into something as approachable as a warm cup of coffee.
With $45.5 billion in assets under management, Grayscale has been flexing its financial muscle. The company made history in January 2020 by getting its Bitcoin Trust recognized as the first financial product backed entirely by digital currency to report to the SEC. Talk about securing a VIP pass to the party!
Coinbase: The Titan Bringing Credibility
Then we have Coinbase, stationed proudly in the Titan category alongside tech giants like Facebook and Amazon. The exchange was heralded for ramping up crypto’s credibility, especially after its public debut via a direct listing on Nasdaq this past April. Just imagine having more revenue in the first quarter of 2021 ($1.8 billion) than all of 2020 combined ($1.2 billion)—now that’s what we call staggering growth!
With over 56 million users clamoring to trade Bitcoin and other cryptocurrencies, Coinbase’s first day of trading was akin to a blockbuster opening night, soaring to a valuation of nearly $86 billion. You can almost hear Wall Street patting itself on the back for this crypto validation.
The Shift Towards Mainstream Acceptance
It may seem like just yesterday when the thought of crypto mingling with big names like Disney and PayPal was as outlandish as your uncle wearing socks with sandals. However, Time’s recognition of both DCG and Coinbase is a significant step towards full-blown mainstream acceptance of cryptocurrencies.
- Partnerships and media coverage are key drivers.
- Time has been dipping its toes into the crypto world, auctioning off tokenized covers as NFTs.
- With big players like Time and Grayscale working together, expectation for crypto education is on the rise.
Time’s Crypto Ventures: From NFTs to Subscription Payments
Time has proven it’s not afraid to dive into the digital realm. Earlier this spring, the magazine auctioned off its first set of tokenized magazine covers, with one NFT raking in a staggering $250,000! And if you think that was all, the magazine recently teamed up with Crypto.com, allowing readers to subscribe digitally using cryptocurrencies—because why not? Now, not only can you read the latest news, but you can do it while investing your virtual fortune!
With its leap into the world of crypto, Time Magazine is not just reporting on the phenomenon; it’s becoming a part of it. So, raise your digital wallets and welcome our new crypto overlords!
