China’s oldest tech publication to accept Bitcoin payments
Beijing Sci-Tech Report hopes to “cultivate new readers” by embracing the digital payment technology
Beijing Sci-Tech Report (BSTR), China’s oldest tech publication, has announced that it is accepting Bitcoin for its 2019 subscriptions, Bitcoin.com reported on Sunday. The cost to subscribe will be 0.01 Bitcoin (currently about 450 yuan or US$65).
The Beijing-based title has run numerous reports on cryptocurrencies and the use cases of blockchain technology. According to the publication’s press release, the announcement to accept Bitcoin highlighted its desire to promote blockchain technology in a real-world setting for “practical actions.”
The BSTR said that if the price of Bitcoin grows significantly by 2020, it will offer refunds to those who have subscribed using the digital currency. A translated BSTR statement explains that the publication hopes to “cultivate new readers” by embracing the payment technology.
Beijing Sci-Tech Report is not the only publication that has tried to entice new subscribers by accepting cryptocurrencies. Back in 2014, Time Incorporated announced that it would accept Bitcoin for subscriptions to Fortune, Good Health, Travel and Leisure, and This Old House. In April of the same year, the Chicago Sun-Times also revealed it would accept Bitcoin for payments. However, both publishing companies have since removed the Bitcoin payment option.