South African Firm Altvest Joins Bitcoin Frenzy: “We’re In!”

by

🇿🇦 South African investment company Altvest Capital has decided to hop on the Bitcoin bandwagon by announcing its first investment in BTC.

On Feb. 21, Altvest officially announced its entry into the Bitcoin (BTC) market “with a focused strategy that does not currently include other cryptocurrencies.”

Altvest’s Bitcoin journey began with the purchase of a small portion of 1 BTC ($98,000), Altvest CEO Warren Wheatley told CryptoMoon, highlighting potential concerns by regulators.

“We have applied to the regulators to have BTC-linked equity instruments listed,” he added.

“Bitcoin is fundamentally different from other digital assets”

Bitcoin offers long-term growth potential while also providing a hedge against macroeconomic threats such as the depreciation of South Africa’s fiat currency, the South African Rand, the company said.

Altvest emphasized that it currently sees Bitcoin as the only digital asset meeting its strict investment criteria for a long-term treasury allocation.

“Bitcoin is fundamentally different from other digital assets,” Altvest CEO Warren Wheatley said, adding:

“It is the only truly decentralized, scarce, and globally recognized digital asset that aligns with Altvest’s investment philosophy. We see Bitcoin as a strategic reserve asset that enhances our treasury portfolio while providing a hedge against economic instability and currency depreciation.”

The firm highlighted that it currently remains exclusively focused on Bitcoin and has no plans to invest in alternative cryptocurrencies or altcoins.

This is a developing story, and further information will be added as it becomes available.

Read More

2025-02-21 12:51