SynBiotic: First German exchange company to invest in Bitcoin (BTC)
Pharmaceutical company SynBiotic is the first German exchange company to exchange fiat reserves for Bitcoin. In doing so, the company is following in the footsteps of Tesla and MicroStrategy, which are pursuing similar strategies.
As the first exchange company in this country, SynBiotic, which specialises in cannabis, is venturing into the Bitcoin standard. As the company announced in a press release, SynBiotic SE has started to Bitcoin Capital exchange parts of its free liquidity into Bitcoin (BTC). The company says that this is to protect itself against the impending devaluation of fiat money. After all, the massive expansion of the base money of the euro and the US dollar is a cause for concern, so the threat of inflation cannot be ruled out.
SynBiotic CEO Lars Müller has obviously done his homework
Because as the CEO aptly summarises, unlike the euro and the US dollar, BTC is not limited.
Bitcoin is the exact opposite model to conventional currencies: Its volume is limited to 21 million units. This limit is fixed and inviolable, which in turn is guaranteed by the decentralised organisation of the cryptocurrency and the tamper-proof nature of a blockchain. For this reason, we have more confidence in bitcoin in the long term than in euros or dollars, where a central institution, influenced by politicians, can expand the money supply immeasurably.
CEO Lars Müller
That SynBiotic announced the investment just two weeks after Michael Saylor’s World.NOW conference suggests the MicroStrategy CEO’s influence. However, it is not known whether SynBiotic representatives attended the event. MicroStrategy was the first listed company in the world to publicly exchange its cash reserves for Bitcoin.