Altvest Capital Becomes First African Company to Adopt Bitcoin as Treasury Asset

Altvest Capital (ALV) has become the first listed company in Africa to adopt bitcoin as a strategic treasury asset. Key points include:

• Acquired 1 BTC for 1.8 million rand ($98,200).
• Decision influenced by similar moves from Strategy in the U.S. and Metaplanet in Japan.
• Focus on preserving shareholder value and mitigating currency depreciation risks.
• Considers bitcoin the only digital asset meeting its investment criteria for long-term allocation.
• Metaplanet acquired 2,031 BTC worth nearly $200 million since April last year, achieving a 3,900% share price increase.
• As of publication, Altvest shares fell over 9% to 590 rand.

Corporates continue to add bitcoin to their treasuries, following Michael Saylor's Strategy, which holds 478,740 BTC valued at over $47 billion.