While the Chinese Government is breathing down the neck of cryptocurrency investors, the country’s oldest tech publication, Beijing Sci-Tech Report (BSTR) decides to jump on the wagon in support of the virtual currencies. The publication will be accepting Bitcoin for its 2019 subscriptions. The charge of the same will be 0.01 Bitcoin (about 450 yuan or US$65 according to the current rate).
BSTR states in their press release, that this action is to promote blockchain technology in a real-world setting for “practical actions.” The publication has been known to release numerous reports on cryptocurrencies and the use cases of blockchain technology. Interestingly, in case of a significant Bitcoin price surge by 2020, BSTR will offer a refund to subscribers who have used the token for it. A translated BSTR statement explains, their aim to “cultivate new readers” by embracing the payment technology.
Although forerunner in the action, Beijing Sci-Tech Report is not the first one to accept cryptocurrencies to entice new subscribers. In 2014, Time Incorporated initiated accepting Bitcoin for subscriptions to Fortune, Travel and Leisure, Good Health, and This Old House. Soon joining in was the Chicago Sun-Times in the same year. However, both the publishings do not hold Bitcoin payment option as of now.