Tag - SynBiotic SE

SynBiotic SE becomes the first publicly traded company in Germany to hedge against euro currency devaluation with bitcoin

Given the excessive increase in money supply in both the euro and USD zones, there is legitimate concern about a massive devaluation of fiat money. The cannabis company SynBiotic SE (XETRA; ISIN: DE000A2LQ777 / WKN: A2LQ77) is therefore set to become the first listed company in Germany to hedge against the devaluation of the euro with bitcoin. Hence, SynBiotic SE has started to shift some of its free liquidity into bitcoin.

SynBiotic SE CEO Lars Müller says of the decision: “Our decision focused less on price fluctuations than the risk of devaluation of euro and dollar. Bitcoin is the exact antithesis of traditional currencies: its volume is limited to 21 million units. This limit is fixed and inviolable, which the cryptocurrency‘s decentralized organization and the blockchain‘s tamper-proof nature in turn guarantees. For this reason, we 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. In addition, the cannabis sector, in particular, has had very positive experiences with bitcoin as a simple and digital means of payment. Several SynBiotic subsidiaries already accept payments in bitcoin in addition to payments in euros.”

Read More