{"id":27678,"date":"2020-08-25T11:22:34","date_gmt":"2020-08-25T08:22:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27678"},"modified":"2025-08-26T22:30:20","modified_gmt":"2025-08-26T19:30:20","slug":"canadian-graphic-design-company-snappa-shifts-half-of-its-fiat-reserves-into-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/canadian-graphic-design-company-snappa-shifts-half-of-its-fiat-reserves-into-bitcoin\/","title":{"rendered":"Canadian graphic-design company Snappa shifts half of its fiat reserves into Bitcoin"},"content":{"rendered":"

The Canadian graphic-design company Snappa has shifted half of its fiat reserves into Bitcoin. <\/span>reported<\/span><\/a> by Snappa cofounder Chris Gimmer.<\/span><\/p>\n

He explained the decision was driven by rising inflation risks. The bank where Snappa kept its savings cut the rate to 0.45%. The company fears that the fiat currency could devalue more quickly, eroding the real value of its reserves.<\/span><\/p>\n

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“Will you store money in a currency whose supply grows every year? Or would you prefer to store it in a currency whose supply is fixed at the protocol level?”<\/span> \u2014 the blog notes.<\/p>\n<\/blockquote>\n

Grimmer doubts Bitcoin\u2019s supremacy over gold, but notes brighter prospects for the digital currency:<\/span><\/p>\n

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“Bitcoin has existed for 11 years and is still in the early stages of maturing as a reliable store of value. This can be viewed as an opportunity, since the future potential of Bitcoin has not yet been priced in.”<\/span><\/p>\n<\/blockquote>\n

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Here is the third company I know of choosing to convert their reserve assets from dollars to Bitcoin.<\/p>\n

Still don\u2019t believe this will become a popular trend for some time, but the thesis laid out shows incredible macro understanding.<\/p>\n

h\/t @MartyBent<\/a> https:\/\/t.co\/CY3tJeZhgR<\/a><\/p>\n

\u2014 Pomp \ud83c\udf2a (@APompliano) August 24, 2020<\/a><\/p>\n<\/blockquote>\n