Altvest Capital, a South African investment firm, has announced its inaugural investment in Bitcoin, joining the growing trend in the crypto market.
On February 21, Altvest declared its entry into the Bitcoin (BTC) space, stating that it will pursue a specific strategy that currently excludes other cryptocurrencies.
Source: Altvest Capital
The company’s foray into Bitcoin started with a modest acquisition of one BTC, as noted by Altvest CEO Warren Wheatley during an interview with Cointelegraph, who also mentioned concerns regarding regulatory oversight.
“We have submitted applications to the regulators for listing BTC-linked equity instruments,” he stated.
“Bitcoin is fundamentally different from other digital assets”
According to the company, Bitcoin presents significant long-term growth potential and serves as a safeguard against macroeconomic challenges, including the depreciation of the South African Rand.
Altvest underlined that Bitcoin meets its rigorous investment standards for a long-term treasury allocation, distinguishing it from other digital assets.
“Bitcoin is fundamentally different from other digital assets,” asserted Altvest CEO Warren Wheatley, who added:
“It is the only truly decentralized, scarce, and globally recognized digital asset that aligns with Altvest’s investment philosophy. We view Bitcoin as a strategic reserve asset that strengthens our treasury portfolio while acting as a buffer against economic instability and currency depreciation.”
The firm reiterated its exclusive focus on Bitcoin, with no intentions of diversifying into alternative cryptocurrencies or altcoins.
This is a developing story, and additional information will be updated as it becomes available.
