AltVest Capital intends to raise million to boost its Bitcoin holdings. The corporation sees Bitcoin as a currency devaluation hedge. South African investment company AltVest Capital is adopting Bitcoin as a reserve asset for the treasury, and it is setting the pace in Africa as the first company to do so. The company already owns one Bitcoin and is making a bid for regulatory approval to raise another 200 million rand (about million) to increase its Bitcoin holdings. AltVest Capital is taking a cue from international companies like Strategy, MARA, and Metaplanet, which have also made Bitcoin a strategic asset. While Strategy and MARA issued 0% convertible notes to fundraise, AltVest Capital will raise capital by selling its shares. The company has not revealed additional
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- AltVest Capital intends to raise $10 million to boost its Bitcoin holdings.
- The corporation sees Bitcoin as a currency devaluation hedge.
South African investment company AltVest Capital is adopting Bitcoin as a reserve asset for the treasury, and it is setting the pace in Africa as the first company to do so. The company already owns one Bitcoin and is making a bid for regulatory approval to raise another 200 million rand (about $10 million) to increase its Bitcoin holdings.
AltVest Capital is taking a cue from international companies like Strategy, MARA, and Metaplanet, which have also made Bitcoin a strategic asset. While Strategy and MARA issued 0% convertible notes to fundraise, AltVest Capital will raise capital by selling its shares. The company has not revealed additional information on how it is doing the fundraising but is determined to build on its Bitcoin position.
AltVest Capital Initiates Holding Bitcoin in Treasury Reserves
CEO Warren Wheatley reiterated that Bitcoin is a hedge against economic volatility and the devaluation of the South African Rand. As inflationary pressures build and fiat currencies devalue, Bitcoin is increasingly acting as a store of value. AltVest sees this move not only as diversifying its financial assets but also as protection against future economic recession.
This follows hot on the heels of growing global adoption, with several American states discussing launching Bitcoin reserves recently. This suggests that perceptions have started shifting around digital assets. While Bitcoin hovers lower than its record-high, it holds on to the image of an investment of strategy.
With AltVest Capital leading the way for Bitcoin adoption in Africa, the company’s move could prompt other businesses in the continent to look at digital assets as part of their financial strategy. As more governments and businesses investigate the merits of Bitcoin, its potential as a world reserve asset grows stronger.
In the years to come, Altvest will grow its Bitcoin reserves by reinvesting earnings and raising more capital. By holding BTC on reserve, the firm is preparing to ride through economic downturns and share in the long-term appreciation value of Bitcoin.