Altvest Capital (ALV) became the first company that lies in Africa to adopt Bitcoin (BTC) as a strategic asset of the treasure, the company said in a press release on Friday.
Altvest said he bought a Bitcoin for his strategic treasure, following a route established by the strategy (MSTR) in the United States and Metaplenet (3350) in Japan.
The company based in Johannesburg paid 1.8 million RAND ($ 98,200) for just over 1 BTC, and said it does not plan to buy alternative cryptocurrencies.
Altvest said he sees “Bitcoin as the only digital asset that meets his strict investment criteria for a long -term treasure assignment.”
Companies are adding more and more bitcoin as a strategic treasure asset. Michael Saylor’s strategy (previously known as Microstrategy) was a pioneer in the A movement, beginning to buy BTC in 2020. It now has 478,740 bitcoin, with a value of more than $ 47 billion at current prices.
The South African investment firm said that the initiative to acquire Bitcoin was “focused on preserving the value of shareholders, mitigating the risks of currency depreciation and gaining exposure to a reserve of recognized value worldwide.”
Since Metapamenet, based in Tokyo, began buying Bitcoin in April last year, has acquired 2,031 tokens worth almost $ 200 million and its shares became the best made Japanese heritage in the last 12 months, with a profit of 3,900%. Earlier this month, the KBW investment bank began the coverage of the strategy with a higher performance rating and an objective price of $ 560. The shares are currently $ 323.92.
Altvest’s shares were quoted more than 9% lower than 590 Rand at the time of publication.
Read more: Zoom Communication I should embrace Bitcoin as treasure asset, says Eric Semler
