In a groundbreaking move, South African investment powerhouse Altvest Capital has announced its bold plan to embrace Bitcoin as a primary treasury reserve asset. This decision positions them as the first company in Africa to follow in the footsteps of pioneering US tech firm Strategy.

South African Firm Altvest to Accept Bitcoin as Treasury Reserve Asset

Altvest isn’t just talking the talk – they’ve already purchased Bitcoin and are now seeking regulatory green light to raise a substantial 200 million rand (around $10 million). CEO Warren Wheatley revealed in an interview that this capital raise, achieved through issuing shares, aims to significantly boost their Bitcoin holdings. While the plan is set, the final call on this capital raise is still pending.

This strategic maneuver directly mirrors the playbook of Strategy co-founder Michael Saylor, who famously began his company’s Bitcoin accumulation journey back in 2020.

And the results for Strategy? Nothing short of spectacular. Since adopting Bitcoin, their stock has skyrocketed by over 2,400%, propelling the company’s market value to a staggering $82 billion and growing Saylor’s personal wealth to nearly $7 billion!

Wheatley passionately explained the rationale behind Altvest’s decision, stating, “We see Bitcoin as a vital strategic reserve, enhancing our treasury portfolio and acting as a robust shield against economic uncertainties and the weakening South African rand.”

Despite the growing buzz and corporate interest in Bitcoin, some critics caution about potential risks. They point out that Bitcoin’s inherent price swings could introduce instability to company balance sheets.

However, Altvest emphasizes they’ve done their homework. Their board of directors conducted a thorough risk assessment and confidently concluded that Bitcoin aligns perfectly with their alternative asset investment strategy.

Altvest’s move is more than just a company decision; as the first African entity to integrate Bitcoin into its core treasury strategy, it sends a powerful signal about the rising tide of institutional interest in digital assets across the African continent.