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German cannabis company hedges with Bitcoin in case euro crashes

Published 02/17/2021, 04:22 AM
Updated 02/17/2021, 06:00 AM
German cannabis company hedges with Bitcoin in case euro crashes
TSLA
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BTC/USD
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SynBiotic SE, a German cannabis company, has announced that it is following the lead of companies like MicroStrategy and Tesla (NASDAQ:TSLA) in shifting part of its liquid cash holdings into Bitcoin (BTC).

In a Feb. 16 update on its website, the company stated that the move was spurred by “legitimate concern about a massive devaluation of fiat money,” due to an “excessive increase” in both euro and U.S. dollar money supply.

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