Jse-listed Altvest To Set Up Bitcoin Treasury

In a small first move, Altvest - through its wholly owned subsidiary, Altvest Bitcoin Strategies - has acquired 1.00464 bitcoin for R1.81-million as part of what it described as its "long-term treasury management strategy".

"This initiative is focused on preserving shareholder value, mitigating currency depreciation risks and gaining exposure to a globally recognised store of value," Altvest said in a statement to investors on Friday.

The move emulates a decision by MicroStrategy now Strategy CEO Michael Saylor a number of years ago to invest significant money buying bitcoin for the companys treasury. As of 10 February 2025, Strategy held 478 740 bitcoins in its treasury worth a staggering US47-billion at the time of writing.

Altvest said its decision to allocate capital to bitcoin is based on the "unique and proven" attributes of the cryptocurrency. It said these are its fixed supply only 21 million will ever be minted, its decentralised nature, increasing institutional adoption, its liquidity and security, and its growing regulatory recognition in South Africa and globally. Altvests share price was unchanged at R6.50 shortly after markets opened in Johannesburg on Friday.

Altvest's board is chaired by well-known South African technology entrepreneur and self-described "bitcoin maximalist" Stafford Masie, who has also been lobbying for the country to include bitcoin in its strategic reserve.