In a small first move, Altvest in February acquired 1.00464 bitcoin for R1.81-million as part of what it described as its "long-term treasury management strategy".
"Building on its initial BTC bitcoin acquisition, the board of directors of Altvest is pleased to announce the formal adoption of its bitcoin treasury strategy, in terms of which the company will accumulate and hold BTC to preserve value, hedge against inflation and increase long-term shareholder exposure to BTC's potential upside," the company said in a statement to investors via the JSE on Monday.
"The board is of the view that this strategic shift, which will position Altvest as Africa's first bitcoin treasury company, will offer its shareholders long-term value anchored in a resilient and globally liquid asset."