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Altvest Capital acquires one bitcoin, targets $10 million to expand holdings

Modupeoluwa Olalere by Modupeoluwa Olalere
February 23, 2025
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Altvest Capital acquires one bitcoin, targets $10 million to expand holdings

Altvest Capital acquires one bitcoin, targets $10 million to expand holdings

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On Friday, Altvest Capital, a South African investment firm, adopted bitcoin as a strategic treasury asset. This move marks the company as the first publicly listed African firm to integrate Bitcoin into its treasury holdings.

Read also: After years of hype, Pi coin’s price plummets within 24 hours of launch

Investment strategy in bitcoin

Altvest has already acquired one bitcoin and plans to raise an additional $10 million through share sales to expand its holdings.

According to Warren Wheatley, CEO of Altvest Capital: “We see Bitcoin as a strategic reserve asset that enhances our treasury portfolio while providing a hedge against economic instability and currency depreciation.” He emphasised that bitcoin’s decentralised nature and scarcity align with Altvest’s investment philosophy.

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This strategy mirrors that of U.S.-based companies like MicroStrategy, which have adopted bitcoin as their primary treasury reserve asset. The decision reflects a growing institutional interest in digital assets for financial stability.

Read also: President Touadéra unveils $CAR coin to boost Central African Republic’s global presence

Treasury asset management with cryptocurrencies

Altvest is currently seeking regulatory approval for its fundraising efforts. The company believes that integrating cryptocurrencies will not only enhance shareholder value but also mitigate risks associated with currency depreciation.

As Warren Wheatley noted, “It is the only truly decentralised, scarce, and globally recognised digital asset that aligns with Altvest’s investment philosophy.”

The move comes amidst increased regulatory engagement with cryptocurrencies in South Africa.

 By October 2024, over 31,000 merchants began accepting crypto payments locally. This trend suggests broader acceptance of digital currencies within traditional financial systems.

Altvest’s initiative positions it at the forefront of African financial innovation by exploring alternative assets for value preservation.

Despite analysts’ concerns about volatility, Altvest sees cryptocurrency investment as crucial for portfolio diversification.

In line with this approach, other companies will likely incorporate cryptocurrencies into their treasury management strategies. This could lead to increased adoption across various sectors within Africa and beyond.

Tags: Altvest CapitalSouth Africa
Modupeoluwa Olalere

Modupeoluwa Olalere

Modupe is a tech content writer with 3+ years of experience turning complex ideas into clear, engaging stories. She covers innovation, digital trends, and emerging technologies. When she’s not writing, she’s exploring new tools or tracking trends shaping Africa’s tech ecosystem.

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