At the time of this announcement, Altvest's shares were trading down over 9% at 590 rand, indicating market skepticism regarding the move.

This strategic decision mirrors the successful approach of Michael Saylor's MicroStrategy, which has seen its stock price soar significantly following its Bitcoin investments.

Altvest Capital Ltd. has made headlines by announcing its intention to become the first publicly listed company in Africa to adopt Bitcoin as its primary treasury reserve asset.

The trend of corporate Bitcoin adoption has been gaining momentum since MicroStrategy's initial investment in 2020, despite ongoing criticisms regarding Bitcoin's volatility.

The company's CEO, Wheatley, highlighted Bitcoin's decentralized, scarce, and globally recognized nature, which aligns perfectly with Altvest's investment philosophy.

Altvest views Bitcoin not only as a long-term growth asset but also as a hedge against macroeconomic threats, particularly the depreciation of the South African Rand.

Unlike some international firms that have opted for 0% convertible notes for fundraising, Altvest plans to raise capital by selling its shares, though specific methods remain undisclosed.

The company remains cautious about investing in altcoins due to concerns over inflationary supply mechanisms, regulatory uncertainty, and liquidity issues.

Altvest aims to replicate MicroStrategy's success, which has experienced a remarkable 2,400% increase since it began purchasing Bitcoin.

As of February 20, 2025, Bitcoin's price was approximately $97,000, reflecting the current market conditions that are influencing corporate investment strategies.

Wheatley anticipates that Altvest's pioneering move could inspire other publicly traded companies in tech-savvy African nations, such as Rwanda and Kenya, to invest in Bitcoin.

The cryptocurrency market overall has seen a recent spike, with a market cap reaching $3.21 trillion, largely driven by Bitcoin's rise to $98,298.02.