On February 21st, COINOTAG reported that Altvest is poised to make history by becoming Africa’s first publicly listed company to embrace Bitcoin as its principal reserve asset. Following its strategic acquisition of one Bitcoin, the firm has taken significant steps by applying to regulatory bodies for approval to raise about 200 million Rand (approximately $10 million) through a stock offering aimed at expanding its Bitcoin holdings. This bold move reflects a growing trend among businesses to integrate digital currencies into their financial frameworks.
The decision by Altvest underscores a broader movement within Africa, as firms increasingly recognize the potential of cryptocurrency in diversifying their asset portfolios. By opting for Bitcoin as a reserve, Altvest is not only positioning itself for potential capital growth but also responding to the rising interest in blockchain technology across the continent. This initiative could pave the way for further innovation and adoption of digital assets in African markets.