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Altvest invests $98,200 in Bitcoin

Altvest invests $98,200 in Bitcoin

GrafaGrafa2025/02/25 04:30
By:Mahathir Bayena

Altvest Capital Limited, a South African investment firm, has become the first publicly traded company in Africa to adopt Bitcoin (CRYPTO:BTC) as a strategic treasury asset.

The company's board chairman, Stafford Masie, is a known Bitcoin advocate.

Altvest initially invested approximately 1.8 million rand ($98,200) to purchase just over 1 BTC.

The company aims to raise $10 million through a stock sale to increase its Bitcoin holdings.

However, they are seeking regulatory approval for the stock sale.

The firm views Bitcoin as a strategic reserve asset, offering a hedge against economic instability and currency depreciation, particularly relevant given the risks associated with the South African Rand.

"Bitcoin is fundamentally different from other digital assets. It is the only truly decentralised, scarce, and globally recognised digital asset that aligns with Altvest’s investment philosophy," CEO Warren Wheatley stated.

Altvest believes Bitcoin's scarcity, capped at 21 million BTC, positions it as a hedge against inflation and currency debasement.

Its decentralised and censorship-resistant nature offers unmatched security, while increasing institutional adoption validates its legitimacy as a store of value.

The company conducted a comprehensive risk assessment before investing, concluding that Bitcoin aligns with its alternative asset philosophy, prioritising long-term growth and macroeconomic risk mitigation.

A structured risk management framework has been implemented to monitor and optimise Bitcoin exposure.

Masie, a Bitcoin maximalist, believes other blockchain projects "murky the waters" and distract from Bitcoin.

"But me, I am Bitcoin. I’ve always been Bitcoin...I love Bitcoin. I’m in Bitcoin and Bitcoin only. I’m a maxi," he said.

He also compared Bitcoin to gold, asserting that the cryptocurrency's deflationary model and fixed supply give it greater utility.

Masie intends to utilise unused energy in South Africa to turn the country into a Bitcoin mining hub.

At the time of reporting, the Bitcoin (BTC) price was $91,426.00.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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