Altvest Capital (ALV) has become the first company listed in Africa to adopt Bitcoin (BTC) as a strategic cash rate, the company announced on Friday in a press release.
Altvest said that he had bought a bitcoin for his strategic treasure, following a path defined by Strategy (MSTR) in the United States and Metaplanet (3350) in Japan.
The company based in Johannesburg paid 1.8 million rands ($ 98,200) for just over 1 BTC, and said it did not plan to buy alternative cryptocurrencies.
Altvest said that he considers “Bitcoin as the only digital active ingredient which meets its rigorous investment criteria for a long -term cash allowance”.
Companies are increasingly adding Bitcoin as a strategic cash. Michael Saylor’s strategy (formerly known as microstrategy) was the pioneer of decision A, starting to buy BTC in 2020. It now contains 478,740 bitcoin, worth more than $ 47 billion at prices current.
The South African investment company declared that the initiative to acquire Bitcoin was “focused on preserving the value of shareholders, the attenuation of the risks of depreciation of currency and obtaining exposure to a World -recognized value store “recognized”.
Since Metaplanet, based in Tokyo, started buying bitcoin in April of last year, he acquired 2,031 tokens worth almost 200 million dollars and his actions have become the most Japanese equity efficient in the past 12 months, with a gain of 3,900%. Earlier this month, the KBW investment bank started coverage of the strategy with an outperformance note and a price target of $ 560. Actions are currently $ 323.92.
The ALTVEST shares were negotiated more than 9% at 590 rands at the time of publication.
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