CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • Market Updates
  • BTC Analysis
  • ETH Analysis
  • XRP Analysis
  • Interviews
  • Opinions
CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
Home » Crypto News » German’s SynBiotic Buys Bitcoin as a Hedge Against Fiat Devaluation

German’s SynBiotic Buys Bitcoin as a Hedge Against Fiat Devaluation

Author: George Georgiev

Last Updated Feb 18, 2021 @ 09:24

SynBiotic SE has become the first publicly-traded company in Germany to announce that they are beginning to shift some of its free liquidity into bitcoin.

The firm, which specializes in investment, research, and development in the cannabis sector, said that their industry has had very positive experiences with cryptocurrencies as a “simple and digital means of payment.”

Corporations Buying Bitcoin Seems To Be Trendy

It seems like only yesterday Elon Musk made the SEC filing, laying out how his company had purchased more than $1.5 billion worth of bitcoin in the month of January. Today, The price hovers around $52K.

Since the announcement from Tesla, various economic analysts have weighed in on the decision. Some investment firms have seen this decision as a very profitable one and have begun urging their own clients to take a note from the billionaire’s playbook.

As reported last week, RBC Capital Markets has been urging Apple to create a Bitcoin exchange platform, along with acquiring some of the digital currency itself. Additionally, Twitter’s CFO has said that the social media site is exploring the possibility of incorporating cryptocurrencies onto the platform, however, no changes have been made. Other commentators are more skeptical. JP Morgan strategists say that while Tesla’s buy has certainly put the spotlight on bitcoin, it remains too risky for most investors, citing volatility figures.

While the jury seems to be out on whether buying bitcoin is a smart decision, it seems that some companies may take the risk regardless. SynBiotic very well could be just an early entry on a long, long list of companies with bitcoin on the balance sheet, especially if we see other heavy-hitters such as Apple buy in.

From Silk Road To Main Street

Another reason cited from SynBiotic is that several of their subsidiaries already accept bitcoin payments for various products. Cannabis remains illegal in much of the world, and even where it is legal, those in the cannabis industry can have major issues securing the financial services needed to survive. While Bitcoin’s early days were defined by The Silk Road and Dark Web drug purchases, it seems as the legal cannabis companies are learning a thing or two from their anonymous, Tor-browsing predecessors.

In the United States, Colorado, Oregon, and others legalized marijuana on a state-level years ago. However, it remains illegal on a federal level. Large banks to this day are hesitant or even unable to deal with this new industry, along with all the regulatory hoops they would need to jump through to legally provide financial services to, well, drug dealers. Often, these cannabis companies would deal entirely in cash to keep their business running, turning over tens of thousands of dollars per day, if not more.

This aspect of the cannabis market makes bitcoin uniquely fit to handle the challenge, and it seems like SynBiotic fully realizes this. Not being beholden to a bank, which answers to regulators and government agencies, allows companies to take control of their own finances. Additionally, not being forced to operate entirely with cash means give the company peace of mind that their assets are fully secured.

SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

You Might Also Like:

  • btc_tesla_cover
    Bitcoin And Tesla Stock The Biggest Market Bubbles According to a Deutsche Bank Survey
  • apple_cover
    Apple Should Follow Tesla's $1.5B Bitcoin Outlay: RBC Capital Markets
  • Germany
    Two Centuries-Old German Bank Announced A Cryptocurrency Fund for 2021
Tags: Bitcoin Germany
Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram

About The Author

George Georgiev
More posts by this author

Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

  • bitcoin
    BTC$44,101.00
  • ethereum
    ETH$2,353.36
  • Join Our Community

    FacebookX YouTubeTelegram


    Editorials
    Real-World Assets: Crypto’s Latest Big Buzz – But is it Truly Here to Stay? (Op-Ed)

    Real-World Assets: Crypto’s Latest Big Buzz – But is it Truly Here to Stay? (Op-Ed)

    Could the Blockchain Disrupt Big Data in the E-commerce Industry?

    Could the Blockchain Disrupt Big Data in the E-commerce Industry?

    Binance’s New CEO Richard Teng: The Key Factors That Will Drive Mass Adoption in 2024 (Interview)

    Binance’s New CEO Richard Teng: The Key Factors That Will Drive Mass Adoption in 2024 (Interview)

    How Bitcoin Can Be a Lifeboat for People in Third World Countries: Interview with Ledn’s Mauricio Di Bartolomeo

    How Bitcoin Can Be a Lifeboat for People in Third World Countries: Interview with Ledn’s Mauricio Di Bartolomeo

    What 600 Startup Applications Tell About Blockchain & AI in 2024

    What 600 Startup Applications Tell About Blockchain & AI in 2024

    Bitcoin, Security, and the Future of Crypto: Interview with Jameson Lopp (Bitcoin Amsterdam 2023)

    Bitcoin, Security, and the Future of Crypto: Interview with Jameson Lopp (Bitcoin Amsterdam 2023)

    Zero-Knowledge (ZK) 101: Everything You Need to Know About ZK Proofs

    Zero-Knowledge (ZK) 101: Everything You Need to Know About ZK Proofs

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!