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On Tuesday, the cannabis firm Synbiotic SE, a publicly-traded company in Germany that\u2019s listed on the Frankfurt Stock Exchange and Xetra, has announced it is leveraging bitcoin to hedge against the euro. Synbiotic\u2019s chief executive officer, Lars M\u00fcller explained that the company decided to hedge with the leading crypto asset in order to protect the firm from further risk of euro and dollar devaluation.<\/strong><\/p>\n A German cannabis company is joining the growing list of firms that are adding bitcoin (BTC<\/a>) to their treasuries. Synbiotic SE announced on Tuesday that it is holding BTC<\/a> in order to hedge against fiat currency inflation. Synbiotic\u2019s CEO, Lars M\u00fcller explained that the cannabis firm has already started to shift \u201cfree liquidity into bitcoin.\u201d<\/p>\n \u201cOur 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,\u201d M\u00fcller said during the announcement.<\/p>\n \u201cThis limit is fixed and inviolable, which the cryptocurrency\u2018s decentralized organization and the blockchain\u2018s 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,\u201d he added.<\/p>\n M\u00fcller continued:<\/p>\n 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.<\/strong><\/em><\/p>\n<\/blockquote>\n <\/ins> <\/ins> <\/p>\n Synbiotic\u2019s recent announcement follows a slew of companies adding BTC<\/a> to their balance sheets. This week, Microstrategy announced it was selling $600 million in convertible shares to purchase the leading crypto asset. Synbiotic currently focuses on the synthetic production of cannabinoids, drug development, dietary supplement development, and cosmetic products as well.<\/p>\n Much like most of the firms adding bitcoin to their treasuries, Synbiotic\u2019s reasonings and \u201clegitimate concern\u201d are similar. Synbiotic and many other businesses are concerned about the \u201cmassive devaluation of fiat money\u201d particularly when it comes to the U.S. dollar and the EU\u2019s euro.<\/p>\n Synbiotic believes that the company is the first corporate entity in Germany that has invested in BTC<\/a> in order to curb inflation.<\/p>\nSynbiotic CEO: \u2018Bitcoin Is the Exact Antithesis of Traditional Currencies\u2019<\/h2>\n
![\"German](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2021\/02\/syn.jpg\" "\\"German")
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The Massive Devaluation of Fiat Money Is a Legitimate Concern<\/h2>\n