Altvest Capital has become the first publicly traded company in Africa to adopt Bitcoin as a treasury reserve asset, part of a broader treasury management strategy.
Pioneering African Companies
A few days ago, Altvest Capital announced its decision to use Bitcoin as a treasury asset, driven by the desire to strengthen financial resilience and protect the business against currency depreciation risks.
Stafford Masie's Vision on Bitcoin
Stafford Masie, chairman of Altvest Capital's board and former head of Google in South Africa, supports Bitcoin and remains skeptical of other blockchain projects. During a podcast with the crypto exchange VALR, Masie emphasized that he sees all other blockchains as merely interesting computer projects that distract from Bitcoin. "But me, I am Bitcoin. I've always been Bitcoin. I love Bitcoin. Let all crypto entities eventually come back to it," Masie stated.
Strategic Bitcoin Reserve for South Africa
Masie argues that Bitcoin possesses superior characteristics to gold due to its deflationary model, fixed supply, and stock-to-flow ratio. He calls for the South African government to invest part of the national funds in Bitcoin for its long-term benefits. Masie also plans to utilize unused energy in South Africa to transform the country into a Bitcoin mining hub.
Stafford Masie sees Bitcoin as a key to financial sustainability in the future and actively promotes the idea of creating a strategic cryptocurrency reserve for South Africa.
