There is a legal concern about a heavy decline of fiat currencies, since the massive increase in the supply of money in both the USD and Euro zones. SynBiotic SE, a German cannabis company, is all set to become the first publicly-traded company in Germany to hedge against the decline of the euro with Bitcoin. Understanding the Investment CEO of SynBiotic SE, Lars Müller, on the decision based on the decentralized organization of cryptocurrencies, said: “Our 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. This limit is fixed and inviolable, which the cryptocurrency‘s decentralized organization and the blockchain‘s tamper-proof nature in turn guarantees.” Lars Müller also said: “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. 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.” SymBiotic SE and Bitcoin Experiences As we are already aware of fact that BTC is the exact converse of the traditional currencies and its volume is limited to a count of 21 million units. Also, it is known that this limit is specified and unalterable, which is guaranteed by the decentralized corporation and its interference-proof nature. This was the particular reason why the company has more long-term confidence in BTC rather than in Euro and USD. It is necessary to understand that the money supply of Euro and USD can be increased innumerably. Moreover, the past experiences of Bitcoin in the cannabis sector have been impressive, so the fact that Bitcoin servers as a convenient form of payment in this industry also can’t be neglected.
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