- Altvest Capital invests in Bitcoin, becoming Africa’s first publicly listed firm to do so.
- The company plans to raise $10M through shares to expand Bitcoin holdings.
- Corporate Bitcoin adoption grows as firms seek financial stability amid economic uncertainty.
Altvest Capital has taken a bold leap into the crypto space. The South African investment firm now holds the title of the first publicly traded company in Africa to adopt Bitcoin as a treasury asset. This groundbreaking move reflects a growing shift among corporations worldwide. To mark the occasion, Altvest Capital purchased one Bitcoin, valued at approximately 1.8 million rand ($98,200). This initial investment signals a long-term commitment to Bitcoin as a financial reserve.
Altvest Capital Sees Bitcoin as a Game-changer
The recent purchase represents only the beginning of a much larger plan. Altvest Capital aims to raise 200 million rand ($10 million) through a share sale to expand Bitcoin holdings. This strategic decision highlights confidence in Bitcoin’s ability to serve as more than just a store of value. Leadership at the firm views Bitcoin as a safeguard against inflation and economic uncertainty.
Unlike traditional currencies, Bitcoin remains outside the control of central banks, offering a decentralized financial alternative. To enhance investor participation, Altvest Capital has also filed with regulators to list Bitcoin-linked equity instruments. CEO Warren Wheatley emphasized the unique nature of Bitcoin, setting it apart from other cryptocurrencies.
Bitcoin Adoption Among Corporations Gains Momentum
Altvest Capital joins a growing list of companies integrating Bitcoin into financial strategies. Businesses like Metaplanet, Genius Group, Hut 8 Mining Corp, and Rumble have already embraced this trend. Even Indian-based Jetking Infotrain Limited has allocated funds toward Bitcoin reserves.
This movement began in 2020 when MicroStrategy made history with a 21,454 BTC purchase worth $250 million. That bold decision paved the way for other corporations to follow. Altvest Capital’s entry into Bitcoin could influence more African firms to explore similar strategies.
With inflation concerns rising, businesses may begin viewing Bitcoin as a reliable safeguard. As corporate adoption accelerates, Bitcoin continues strengthening its role as a mainstream financial asset.
