Horowitz's Sponsored Substack to Accept Bitcoin as Payment for Certain Crypto Content

Substack Will Begin Accepting Bitcoin Payment Using OpenNode

OpenNode announced on Monday that its API has been integrated into the Substack platform, allowing Bitcoin payments and rewards on the online publishing platform. 

Substack subscriptions may be purchased in Bitcoin by readers, and subscription payments can be received in Bitcoin by writers and other independent publishers.

According to Ryan Flowers, OpenNode's head of marketing, just two Substack publications are now taking Bitcoin: Willy Woo's weekly, The Bitcoin Forecast, and The Held Report by Dan Held.

Held confirmed that he will take subscription payments, noting that he appreciated Substack leadership's quickness in listening to his requirements.

"We are philosophically aligned with the usage of Bitcoin payments because...Bitcoin is inherently cross-border, peer-to-peer, and censorship-resistant, allowing publishers to attain a greater degree of freedom + independence," a Substack spokesperson wrote in an email. "We're thrilled to be able to provide this alternative, even if it's on a limited scale at first."

Substack will accept Bitcoin on-chain as well as over the Lightning Network.

About Substack

Substack was founded in 2017 and is funded by venture capital companies Andreessen Horowitz, Y Combinator, Fifty Years, and others. 

The platform allegedly has a valuation of $650 million following a March fundraising round headed by Andreessen Horowitz.

The publishing site, which allows authors to transmit their work straight to readers, has over 500,000 paying members, with the most successful writers allegedly making more than six figures each year. 

Select Substack subscribers will be able to pay for their subscriptions in Bitcoin, and some publications will be able to keep their revenues in cryptocurrency as well.