South African investment company Altvest Capital has officially hopped on the Bitcoin train, as they announced their first foray into the world of Bitcoin, and guess what?
They’re not interested in dabbling with any other cryptocurrencies, just good old BTC.
Bitcoin only
Altvest CEO Warren Wheatley revealed that their journey began with a modest purchase of one Bitcoin, but they’re not just throwing caution to the wind.
Wheatley mentioned that they’ve already reached out to regulators to get BTC-linked equity instruments listed.
So, why Bitcoin? Wheatley thinks it’s all about the long-term growth potential and the ability to shield against economic threats, like the South African Rand losing its value faster than you can say inflation.
Altvest believes Bitcoin is the only digital asset that meets their rigorous investment standards for a long-term treasury allocation.
Wheatley didn’t mince words when he said, Bitcoin is fundamentally different from other digital assets, and argued that it’s the only truly decentralized and scarce digital asset out there, making it a perfect fit for Altvest’s investment philosophy.
They see it as a strategic reserve asset that not only boosts their treasury portfolio but also acts as a safeguard against economic instability and currency depreciation.
No altcoins yet
Now, let’s talk about altcoins, because Altvest is taking a cautious stance here, believing that many cryptocurrency, other than Bitcoin, don’t quite align with their investment strategy.
Concerns include inflationary supply mechanisms, reliance on centralized governance, and varying levels of liquidity and market maturity.
Plus, let’s not forget about regulatory uncertainties lurking around every corner.
But don’t think they’re completely shutting the door on altcoins. Altvest plans to keep an eye on market conditions and technological advancements in that space. After all, you never know when something might change.
One domino after another
As Altvest leads the charge in Africa, Wheatley predicts that companies from tech-savvy nations like Rwanda or Kenya will likely follow suit.
He hinted that many privately held firms are already investing heavily in Bitcoin. And if Altvest has its way, they’ll be raising more capital soon to buy even more BTC.
In a world where economic stability feels like a game of musical chairs, it looks like Bitcoin is becoming a go-to option for companies looking to secure their financial future.
Have you read it yet? Over 1,500 financial institutions are holding Bitcoin
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