Altvest Capital (ALV) has made history as the first publicly traded company in Africa to acquire bitcoin as a treasury asset. The company purchased one bitcoin for approximately 1.8 million rand (about $98,200). Altvest refuses to invest in other cryptocurrencies, citing that they do not meet their high investment standards.

Key Points:

• Altvest Capital is the first African listed company to acquire bitcoin as a strategic treasury asset.
• The firm plans to maintain its focus solely on bitcoin, avoiding alternative cryptocurrencies.
• The move to acquire bitcoin aims to protect shareholder value and mitigate risks associated with currency depreciation, while also tapping into a globally recognized asset.

This initiative follows in the footsteps of other companies, like Michael Saylor’s Strategy in the U.S., which began investing in bitcoin back in 2020 and has since amassed a considerable holding, making bitcoin an increasingly popular reserve asset among corporations globally.

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