Everybody is beginning to realize how Bitcoin can be used as a hedge against inflation. The latest company to realize this is a German cannabis firm, SynBiotic who says it is going to be moving some of its free liquidity into the leading crypto asset. The firm also went on to disclose that the majority of its subsidiaries already accept the crypto asset as a form of payment, and their experience so far has been incredible.
Thus, its decision to shift some of its liquidity into BTC was borne out of the need of the firm to hedge against the devaluation of the Euros. This makes SynBiotic the first public company in Germany to make this move into cryptocurrencies.
According to Lars Müller, who is the CEO of the company, he mentioned the fact that Bitcoin has a limited supply makes it an antithesis of fiat currencies. Not only that, he went on to reveal that SynBiotic had more confidence in the virtual asset than other currencies, citing their distrust for physical fiat currencies that central authorities could easily control its supply and circulation through their regulations and policies.
In recent times, we have witnessed an influx of institutional investors into the crypto industry. News of Tesla’s investment in Bitcoin has pushed other corporate entities into investing with the asset. And with the value of the asset rising above $50,000, we are only beginning to witness an institutional adoption rate that would explode very soon.