South Africa’s Altvest Capital Makes First Bitcoin Investment, Joins Global Trend

South African investment firm Altvest Capital has officially entered the Bitcoin market, announcing its first BTC purchase on February 21. This move aligns with a growing global trend of companies diversifying portfolios with digital assets.

Why Bitcoin?

• Altvest CEO Warren Wheatley emphasized Bitcoin’s decentralization, scarcity, and global recognition as key factors in the firm’s decision.
• The firm applied for regulatory approval to list Bitcoin-linked equity instruments, signaling its long-term commitment to BTC.
• Altvest sees Bitcoin as a hedge against economic risks, especially the depreciation of the South African Rand.

Bitcoin Adoption Expands

• MicroStrategy (Strategy) continues to lead corporate Bitcoin holdings, now owning 478,740 BTC (~$47 billion).
• Several U.S. states, including Texas, Ohio, and Pennsylvania, are considering Bitcoin as a reserve asset.
• Metaplanet recently expanded its BTC portfolio, acquiring an additional 68.59 BTC ($6.6M).

With institutional interest in Bitcoin surging, Altvest Capital’s move reinforces BTC’s role as a global store of value in the financial sector.