The appointment comes days after Altvest announced its name change as it shifts focus to building a bitcoin treasury, seeking to emulate the success of companies such Strategy previously MicroStrategy and Metaplanet.
Masie, who describes himself as a bitcoin "maximalist", is a strong proponent of the cryptocurrency, even lobbying for South Africa to include the cryptocurrency in its strategic reserve. Norma Sephuma will replace Masie as lead independent director on the Altvest board.
The adoption of Altvest's bitcoin treasury strategy will demand 'specialist executive attention", the company said in a statement to investors on Thursday.