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Publicly Listed Altvest Capital Bets Big on Bitcoin with $10M Plan
In a groundbreaking move, publicly listed Altvest Capital has taken the bold step of embracing Bitcoin as a treasury asset. This decision makes it Africa’s first publicly traded firm to do so, solidifying its commitment to the leading cryptocurrency.
Altvest Capital’s recent purchase of one Bitcoin, valued at approximately 1.8 million rand ($98,200), signals a long-term dedication to Bitcoin’s financial potential. This initial investment marks only the beginning of an ambitious plan to invest $10 million in Bitcoin through a share sale. The aim is to expand its holdings and strengthen its financial reserves.
The company’s leadership has identified Bitcoin as a game-changer in today’s economic landscape. By adopting this strategy, Altvest Capital seeks to safeguard against inflation and uncertainty by diversifying its portfolio with the decentralized digital asset. Unlike traditional currencies, Bitcoin operates outside the control of central banks, making it an attractive alternative for investors seeking financial stability.
To facilitate investor participation and enhance transparency, Altvest Capital has also submitted plans to regulators to list Bitcoin-linked equity instruments. CEO Warren Wheatley emphasized the unique characteristics that set Bitcoin apart from other cryptocurrencies.
Source: cryptonewsland.com
