- Spinesmith Holdings announced it will convert its balance sheet to Bitcoin.
- This is to avoid the overreach of banks.
Texas biotech company, Spinesmith Holdings, announced it will convert its balance sheet to Bitcoin for long-term holding to “avoid the overreach of banks.”
According to the company spokesman, Spinesmith Holdings doesn’t want to ask permission from the bank every time they want to start projects with their own funds.
In addition, CEO Kevin Dunworth replied when they asked why the company didn’t want to use banks. Dunworth said that Spinesmith was buying Bitcoin as a “hedge against inflation,” and due to “banking overreach.”
More so, the firm chose to work with Unchained Capital — the company that builds products for long-term bitcoin holders. Besides, they added that they chose this firm because it liked supporting fellow local Austin Texas companies. And because the “multi-signature vau...