Andreessen Horowitz-backed Substack will start accepting bitcoin as payment for select crypto content
By: Business Insider
August 25, 2021 at 15:59 PM EDT
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OpenNode announced Monday that the Substack platform integrated its API to offer bitcoin payments and payouts on the online publishing platform. Readers can pay for Substack subscriptions in bitcoin, and writers and other independent publishers can receive subscription payments in bitcoin.
Currently only two Substack publications—Willy Woo's newsletter, The Bitcoin Forecast, and The Held Report by Dan Held— are accepting bitcoin, Ryan Flowers, OpenNode's head of marketing told Insider.
Held confirmed to Insider that he will be accepting payment for subscriptions, saying he appreciated the responsiveness of Substack leadership in listening to his requests.
"We are philosophically aligned with the use of Bitcoin payments because...Bitcoin is inherently cross-border, peer-to-peer, and censorship-resistant, empowering publishers to achieve a greater degree of freedom + independence," a Substack representative told Insider in an email. "We're excited to introduce this option, even at a small scale to start."
Substack will accept bitcoin both on-chain and through the Lightning Network.
Substack is backed by prominent investors including Andreessen Horowitz, also known as a16z, and Y Combinator.