{"id":180323,"date":"2021-02-17T12:22:25","date_gmt":"2021-02-17T09:22:25","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/german-cannabis-company-hedges-with-bitcoin-in-case-euro-crashes\/"},"modified":"2021-02-17T12:22:25","modified_gmt":"2021-02-17T09:22:25","slug":"german-cannabis-company-hedges-with-bitcoin-in-case-euro-crashes","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/german-cannabis-company-hedges-with-bitcoin-in-case-euro-crashes\/","title":{"rendered":"# German cannabis company hedges with Bitcoin in case euro crashes"},"content":{"rendered":"

“# German cannabis company hedges with Bitcoin in case euro crashes <\/strong>”
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SynBiotic SE, a German cannabis company, has announced that it is following the lead of companies like MicroStrategy and Tesla in shifting part of its liquid cash holdings into Bitcoin (BTC).<\/p>\n

In a Feb. 16 update<\/a> on its website, the company stated that the move was spurred by \u201clegitimate concern about a massive devaluation of fiat money,\u201d due to an \u201cexcessive increase\u201d in both euro and U.S. dollar money supply.<\/p>\n

CEO Lars M\u00fcller went further, stressing that the decision was not driven by recent price app<\/a>reciation, but that, \u201cwe have more long-term confidence in bitcoin than in euros or dollars, where a central institution, influenced by politicians, can expand the money supply immeasurably.\u201d<\/p>\n

He went on to say that the cannabis industry in particular has had \u201cvery positive experiences with Bitcoin as a simple and digital means of payment,\u201d and that several SynBiotic subsidiaries already accept Bitcoin as a means of payment.<\/p>\n

Synbiotic SE is building a diverse group of companies in the cannabis sector, with a focus on the synthetic production of cannabinoids and wellness products. It claims to be the first publicly-traded company in Germany to invest in Bitcoin as a hedge against fiat devaluation.<\/p>\n

As Cointelegraph reported, Tesla\u2019s announcement of a $1.5 billion investment in Bitcoin earlier this month caused the price to jump $3,000 in mere minutes.<\/p>\n

Meanwhile, business services company MicroStrategy has been steadily investing in Bitcoin since mid-2020. It recently had 1,400 firms sign-up for a webinar advising other companies who wish to follow its lead.<\/p>\n