By Hassan Mehmood (Saudi Arabia)
The SynBiotic investment firm has become the first-ever German investment and financial institution to invest heavily in Bitcoin. The report followed that the company is heavily pouring in some of its available liquidity into Bitcoin. This is an effort to outdo the devaluation created by fiat money.
SynBiotic has exposure in investment, competitive research, and refinement of the cannabis industries and has proclaimed that they have had very good experiences with Bitcoin in the past. It is a favorable, secure, and digitally convenient means of payment.
Corporate Sector’s Strategic Investment into Bitcoin at Peak
The corporate trendsetter for investing in Bitcoin would have to be Elon Musk. It only seems like tomorrow when his company made an SEC filing showing how his firm has purchased Bitcoin worth more than $1.5 billion, and today the value of a single Bitcoin is around $52K. It seems not only a bold investment but also a strategic one.
After this event with Tesla’s CEO weighing positively for Bitcoin, a chain of events has started in the corporate sector where other investment companies are urging their clients to give cryptocurrency and specifically Bitcoin a valid chance.
According to the JP Morgan strategists, Tesla’s Bitcoin buy has definitely spotlighted Bitcoin, and now every financial corporation wants a piece of it. Apple has been advised to develop its own Bitcoin exchange and, in the process acquiring some digital assets as well. Twitter’s CFO also makes it to the news that the micro blogging platform is probably exploring the option of integrating cryptocurrency on the platform.
SynBiotic Decision to Invest in Bitcoin is not “all talk and no play.”
SynBiotic is investing a lot into Bitcoin at the moment. The one solid reason that has come to light justifying such a bold move is that majority of its subsidiaries already accept crypto payments. Cannabis is still illegal in various countries, and in regions where it is allowed, there are still a lot of hiccups to make the process as efficient as possible, and one such hiccup is retrieving payments from clients in fiat currency.
Cryptocurrency remains a permanent solution to this problem for the cannabis marketplace and companies making their bread through its cultivation, processing, and selling. It seems like the cannabis market only has but one option to start accepting and favoring payments in the form of cryptocurrency. This way, they will be able to take their business operations out of this payment ripple and have a lot of control over their finances.
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