AD
AD
News

SynBiotic SE becomes first German listed company to buy Bitcoin

Jake SimmonsBy 02 Mins Read
  • SynBiotic SE is the first listed company in Germany to use Bitcoin to hedge against excessive monetary expansion.
  • The cannabis company invests a part of its free liquidity in an unknown amount in Bitcoin.

After American companies such as MicroStrategy and Square started the trend in the United States, the first listed company in Germany is now also investing in Bitcoin. Cannabis company SynBiotic SE (XETRA; ISIN: DE000A2LQ777 / WKN: A2LQ77) announced it will make the investment in Bitcoin “in light of the excessive monetary expansion in both the Euro and USD areas.”

According to the official press release, “legitimate concern about a massive devaluation of fiat money.” SynBiotic SE is “therefore set to become the first listed company in Germany to hedge against the devaluation of the euro with Bitcoin” and has therefore started to shift part of its free liquidity into Bitcoin.

Lars Müller, CEO of SynBiotic SE, 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.

Munich-based SynBiotic SE is pursuing a buy-and-build strategy to build a diversified group of companies in the cannabis sector. Thus, the company is active in the field for alternative production of functionally superior cannabinoids and other psychoactive molecules as well as in the field for the development of wellness products. In addition, SynBiotic SE focuses, in particular, on the synthetic production of cannabinoids, the development of drugs, the development of nutritional supplements and cosmetic products.

Recommended for you:

Subscribe to our daily newsletter!


>> Subscribe <<

          No spam, no lies, only insights. You can unsubscribe at any time.

This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

Jake Simmons was the former founder and managing partner at CNF. He has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he has been involved with the subject every day. Prior to Crypto News Flash, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. Business Email: info@crypto-news-flash.com Phone: +49 160 92211628

Related Posts

Exit mobile version