South African firm Altvest adopts Bitcoin strategy and buys first BTC

South African investment company Altvest Capital is the latest firm to jump on the Bitcoin bandwagon by announcing its first investment in BTC.

Altvest, on Feb. 21, officially announced its entry into the Bitcoin (BTC) market “with a focused strategy that does not currently include other cryptocurrencies.”

The board of Altvest has conducted a comprehensive risk assessment and concluded that “Bitcoin aligns with Altvest’s alternative asset investment philosophy.”

Bitcoin offers long-term growth potential while also providing a hedge against macroeconomic threats such as the depreciation of South Africa’s fiat currency, the South African Rand, the company said.

“Bitcoin is fundamentally different from other digital assets”

Altvest emphasized that it currently sees Bitcoin as the only digital asset meeting its strict investment criteria for a long-term treasury allocation.

“Bitcoin is fundamentally different from other digital assets,” Altvest CEO Warren Wheatley said, adding:

“It is the only truly decentralized, scarce, and globally recognized digital asset that aligns with Altvest’s investment philosophy. We see Bitcoin as a strategic reserve asset that enhances our treasury portfolio while providing a hedge against economic instability and currency depreciation.”

The firm stressed that it currently remains exclusively focused on Bitcoin and has no plans to invest in alternative cryptocurrencies or altcoins.