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Biotech Company To Convert Balance Sheet To Hodl Bitcoin
Bitcoin News now admin /

Texas biotech company Spinesmith Holdings will convert their balance sheet to Bitcoin for long term holding to avoid the overreach of banks.

Specifically, the company doesn’t want to have to ask permission from the bank to embark on projects with their own funds, a spokesman told Bitcoin Magazine.

When asked why the company didn’t want to use banks, CEO Kevin Dunworth commented that Spinesmith was purchasing Bitcoin as a “hedge against inflation,” and due to “banking overreach.”

Spinesmith Holdings, the parent company for Thermi, Spinesmith and Celling Biosciences, is a biotech research and development firm and medical device manufacturer. A source close to the matter told Bitcoin Magazine that the firm has worked with Parker Lewis at Unchained Capital to set up their multisignature custody solution.