- Altvest Capital becomes the first public company in Africa to adopt Bitcoin as a strategic reserve asset, following global corporate trends.
- The company plans to expand its Bitcoin holdings, raising funds through a share sale to strengthen its financial strategy amid economic challenges in Africa.
Another public company is looking to Bitcoin as their primary reserve asset. This time, Altvest Capital, an investment company with Johannesburg-based headquarters, is creating waves in African financial history. The first public firm on the continent to include Bitcoin into their treasury approach is Altvest.
Altvest CEO Warren Wheatley is not experimenting with this choice. According to him, Bitcoin is “a real hedge against economic turmoil and currency devaluation,” not only another digital asset.
The South African Rand has been under financial strain lately; hence, this is not an illogical action. Altvest wants to protect the value of its assets among market uncertainties by moving some of its reserves to Bitcoin.
Altvest Capital Makes History with Bitcoin !
Altvest Capital becomes the first publicly traded listed company in Africa to adopt Bitcoin as strategic treasury asset, reinforcing our commitment to innovation, resilience, and alternative investments.
With Bitcoin’s scarcity,… pic.twitter.com/3AI7I7bj5L
— Altvest Capital (@CapitalAltvest) February 21, 2025
Following Global Giants: Altvest’s Bold Bitcoin Strategy
Altvest’s move reminds one of tactics used by corporations such as Strategy in the United States and Metaplanet in Japan. These two businesses already have Bitcoin on hand for reserves. Altvest is thus not operating alone; they are only following a rising worldwide trend.
This choice does, however, definitely beg a major issue: Can Bitcoin really be a solution for African investment firms?
Alternatively, is it merely dangerous speculation? For Altvest, the solution is evident. To further their Bitcoin holdings, they even intend to raise around 200 million rand—about $10 million—from a share sale. Should that be not a significant dedication, what then is?
Bitcoin and Stablecoins: A Financial Shift in Africa
Africa clearly faces really difficult economic problems. Still, issues in many nations are changing currencies, inflation, and restricted access to modern financial services. This is where Bitcoin finds application as a substitute.
Still, not only is Bitcoin beginning to be rather important in Africa. Yellow Card is one of the steadily expanding stablecoin-based services. This company, aiming to expand its stablecoin solution across 20 African nations, has successfully raised $33 million in Series C capital.
As we previously reported, by use of stablecoins like USDT, USDC, and PYUSD, their service enables companies to facilitate cross-border transactions more easily.
Yellow Card processed $3 billion worth of transactions since its 2019 launch. This indicates that especially in areas where the banking sector is still undeveloped, demand for digital asset-based financial solutions is rising.
A New Era for Bitcoin in African Business?
The adoption of Bitcoin as a reserve asset by Altvest could inspire other African companies to do so. Will this be the start of a significant change in continent corporate treasury policies? Still to be seen.
Clearly, nonetheless, this action indicates one thing: Bitcoin is no more only a speculative asset for big corporations. Some already include Bitcoin into their long-term financial plan.
