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Ruholamin Haqshanas
Author
Ruholamin Haqshanas
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Altvest CEO Warren Wheatley confirmed the company’s initial Bitcoin purchase, amounting to a small fraction of one BTC, valued at approximately $98,000.
Altvest Seeks Regulatory Approval to List Bitcoin-Linked Equity Instruments
Wheatley noted that the firm has applied to local regulators for approval to list Bitcoin-linked equity instruments, underscoring the company’s commitment to operating within regulatory frameworks.
“Bitcoin is fundamentally different from other digital assets,” Wheatley stated.
“It is the only truly decentralized, scarce, and globally recognized digital asset that aligns with Altvest’s investment philosophy.”
Altvest’s strategy focuses exclusively on Bitcoin, citing its potential for long-term growth and its role as a hedge against macroeconomic risks, particularly the depreciation of the South African Rand.
The company emphasized that Bitcoin’s unique attributes make it a suitable asset for its treasury portfolio, providing stability amid economic uncertainty.
Despite the increasing popularity of other cryptocurrencies, Altvest remains firm in its decision to avoid altcoins, prioritizing Bitcoin’s established track record and market recognition.
Strategy Holds Largest Coporate Bitcoin Portfolio
As reported, Strategy, the business intelligence and Bitcoin acquisition firm formerly known as MicroStrategy, has announced plans to raise $2 billion through 0% senior convertible notes to further expand its Bitcoin holdings.
The company stated that net proceeds from the offering will primarily fund new Bitcoin acquisitions, with a portion allocated for general working capital.
The announcement came as the firm owns 478,740 BTC, valued at approximately $47 billion, with a dollar-cost average purchase price of $65,000 per coin.
Despite market volatility, the company’s Bitcoin holdings have delivered a 51% profit, boosting its stock price by 360% over the past year.
Looking to the future, Saylor predicted that the 21st century will be driven by artificial intelligence and digital currencies.
It is worth noting that several U.S. states, including Illinois, Kentucky, Maryland, New Hampshire, New Mexico, North Dakota, Ohio, Pennsylvania, South Dakota, and Texas, have also introduced bills that could enable them to hold Bitcoin and other cryptos as reserve assets.
Recently, Metaplanet has also expanded its Bitcoin portfolio with the acquisition of an additional 68.59 BTC, valued at approximately $6.6 million.
The purchase, made at an average price of $96,335 per Bitcoin, brings the company’s total holdings to 2,100 BTC, worth about $203 million, representing roughly 0.01% of the total Bitcoin supply.
