South Africa’s Altvest Capital Launches Bitcoin Reserve
South African investment firm Altvest Capital has announced its venture into bitcoin, positioning itself as the first company on the continent to pursue this investment strategy.
Currently, the company has secured its inaugural bitcoin and awaits regulatory green light to raise $10 million through a share issuance for further investment in the premier cryptocurrency. CEO Warren Whitley notes that while the ultimate allocation of these funds remains undecided, the board is fervently discussing the merits of bitcoin as a forward-thinking asset.
We see Bitcoin as a strategic reserve asset that enhances our treasury portfolio while providing a hedge against economic instability and currency depreciation, particularly the depreciation of the South African Rand,
Warren Wheatley remarks.
Altvest Capital, renowned for its expertise in alternative investments—from private equity and real estate to fintech and blockchain ventures—offers fractional investment opportunities designed to democratize access to financial instruments through cutting-edge, regulated platforms. It is no wonder that bitcoin emerges as a highly anticipated target.
Over recent years, investing in bitcoin has become a burgeoning trend among corporations. Many are inspired by the pioneering example of Strategy (formerly MicroStrategy), which invested billions in bitcoin, witnessing a market capitalization surge exceeding 2400% in mere years, and has become an emblem of bitcoin investment success.
Read on: MicroStrategy Unveils New Brand Identity as Bitcoin Strategy Expands
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