Key Takeaways
- Altvest Capital initiated Bitcoin holdings to hedge against South African Rand depreciation.
- CEO Warren Wheatley confirmed regulatory applications for Bitcoin-linked equity instruments.
- Altvest prefers Bitcoin exclusively, citing decentralization and scarcity over altcoins.
South African investment firm Altvest Capital announced on February 21 that it has started investing in Bitcoin, viewing it as a critical reserve asset and hedge against the depreciation of the South African Rand.
CEO Warren Wheatley confirmed Altvest’s entry into Bitcoin holdings began modestly, purchasing one Bitcoin initially.
He emphasized the firm’s ongoing collaboration with regulators to introduce Bitcoin-linked equity instruments, highlighting a broader strategic integration.
Regulatory progress
“We have applied to the regulators to have BTC-linked equity instruments listed,” Wheatley stated.
Bitcoin-only strategy
Altvest explicitly favors Bitcoin over other digital assets due to its decentralization, scarcity, and global recognition.
Wheatley explained:
Bitcoin is fundamentally different from other digital assets. It is the only truly decentralized, scarce, and globally recognized digital asset that aligns with Altvest’s investment philosophy.
Altcoin concerns
The firm ruled out investments in altcoins, pointing to concerns such as centralized governance, inflationary supply models, liquidity risks, and uncertain regulatory environments.
However, Altvest remains attentive to broader cryptocurrency market developments.
Future plans
Moving forward, Altvest intends to expand its Bitcoin holdings by reinvesting profits and raising additional funds.
Wheatley also expressed confidence that other African companies, particularly in Rwanda and Kenya, could follow Altvest’s example due to their openness toward technological innovation.
