Wheatley emphasized that Bitcoin's decentralized, scarce, and globally recognized nature aligns with Altvest's investment philosophy, distinguishing it from other cryptocurrencies.

Altvest's strategy is to focus solely on Bitcoin, having conducted a risk assessment that confirms it meets their stringent investment criteria for long-term treasury allocation.

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

The company's decision reflects a growing trend among corporations globally to integrate Bitcoin into their treasury reserves, following the examples set by firms like MicroStrategy and Metaplanet.

In pursuit of expanding its Bitcoin holdings, Altvest is seeking regulatory approval to raise approximately 200 million rand (around $10 million) through a share sale.

At the time of the announcement, Altvest shares were trading down over 9% at 590 rand, highlighting the market's cautious response.

In addition to its Bitcoin investments, Altvest plans to acquire a stake in South Africa's national rugby team, the Springboks, allowing customers to invest in the team through its platform.

The firm initiated its Bitcoin investment with the purchase of one Bitcoin, as CEO Warren Wheatley expressed concerns regarding regulatory compliance.

The firm has also filed with regulatory authorities to list Bitcoin-linked equity instruments, enabling investors to gain direct exposure to Bitcoin's performance through traditional markets.

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

Altvest aims to preserve shareholder value and mitigate risks associated with currency depreciation by adopting Bitcoin as a strategic reserve asset.