South Africa’s AltVest Capital to Invest $10M Into Bitcoin

AltVest Capital, a South African-listed investment holding company, has announced a pioneering move to adopt Bitcoin (BTC) as a strategic reserve asset. The company intends to raise a $10 million initial investment.

This decision, marking a significant departure from traditional treasury management strategies, reflects a growing recognition of Bitcoin’s potential as a hedge against macroeconomic instability and currency devaluation, particularly within the context of the volatile South African Rand (ZAR).

The company’s initial investment, facilitated through its wholly-owned subsidiary AltVest Bitcoin Strategies, comprises 1.00464 BTC acquired for approximately $98,800.

AltVest stated that this program focuses on protecting shareholder investments, reducing the risks associated with currency fluctuations, and ensuring access to a globally accepted stable asset.

AltVest Declares its Bitcoin Reserve Stance

The company’s board has undertaken a comprehensive risk assessment, concluding that Bitcoin aligns with its alternative asset investment philosophy and offers a potent hedge against macroeconomic risks, including the depreciation of the Rand.

In addition, the company noted that its risk management framework, designed to oversee and refine Bitcoin holdings, is aligned with its financial goals.

AltVest’s CEO, Warren Wheatley, emphasizes Bitcoin’s fundamental difference from other digital assets, stating:

“As Altvest’s investment philosophy dictates, Bitcoin stands alone as a truly decentralized, scarce, and globally recognized digital asset. We view Bitcoin as a strategic reserve asset, bolstering our treasury portfolio and providing a hedge against economic instability and currency devaluation.”

AltVest chairman Stafford Masie, a prominent South African technology entrepreneur and self-described “Bitcoin maximalist,” actively advocate for Bitcoin’s inclusion in South Africa’s strategic reserves.

Investment Expansion

AltVest plans to raise $10 million (R200 million) by selling shares to buy more Bitcoin. This shows their strong belief in Bitcoin as an investment. While they still need regulatory approval, their goal is clear: to follow the example of companies like Strategy(formerly MicroStrategy), which have successfully invested heavily in Bitcoin. This reflects a broader corporate trend of diversifying assets beyond traditional investments.

AltVest fully commits to following all financial rules and reporting requirements for its Bitcoin investments. The company carefully monitors its Bitcoin holdings, adapting to market changes, new regulations, and its overall investment plan.

Notably, this responsible and transparent approach ensures long-term value for shareholders. AltVest’s decision to invest in Bitcoin could encourage other African companies to explore similar strategies in today’s challenging global economy.