- Altvest Capital is set to become the first company in Africa to adopt Bitcoin as its primary treasury reserve asset
- The firm aims to secure 200 million rand through selling shares to further expand its Bitcoin holdings
One Bitcoin was purchased by Alvest Capital and the company seeks regulatory approval to raise about R200 million through selling shares. This way, the company would expand its holdings.
On Friday, the company publicly declared that it is the first traded business in Africa to use BTC as a key treasury asset. This move follows a strategy similar to Michael Saylor’s, whose firm has seen a rise of over 2,400% after beginning BTC purchases.
Altvest Capital entered the crypto market by acquiring one BTC, worth about 1.8 million rand (around $98,200 as at date of public notice). This first purchase shows how the firm is dedicated to adopting digital assets.
How Bitcoin Is Set Out To Impact Various Firms
In 2020, Micheal Saylor adopted Bitcoin as its primary treasury reserve asset. Since then, MicroStrategy has significantly increased its holdings, owning approximately 478,740 bitcoins as of February 17, 2025, valued at around $45.1 billion.
This aggressive investment method has led to substantial stock price fluctuations; shares have surged over 400% since the start of 2024, correlating with BTC’s rise to record highs above $100,000.
Altvest has filed to raise up to 200 million rand ($10 million) by selling shares to expand its BTC holdings. The company views Bitcoin as more than a store of value, believing it can strengthen financial reserves against inflation and economic risks.
Along with raising funds, Altvest has applied to list Bitcoin-linked equity instruments, allowing investors to gain exposure to BTC through traditional markets. CEO Warren Wheatley explained that the firm chose BTC over other cryptocurrencies because of its fully decentralized nature.
Wheatley explained that his company sees BTC as a very valuable asset that could strengthen its treasury and protect against economic uncertainty and the weakening of the country’s local currency ‘South African Rand’.
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