Companies outside the United States look set to follow Tesla and others into bitcoin (BTC) buying, after the German listed cannabis company SynBiotic announced that it has “started to shift some of its free liquidity into bitcoin.”
Although the German company did not disclose the size of its investment, it was quick to claim, in an official release yesterday, that it was the “first [publicly] listed company in Germany” to take the plunge.
Perhaps just as significant as the investment news was the reasoning provided – a damning assessment of recent monetary policy in Europe and elsewhere, with governments keen to spend their ways out of the coronavirus pandemic-induced economic slowdown.
The company, which trades on the Deutsche Börse Group’s Xetra exchange, wrote,
