South African Corporation Selects Bitcoin Reserve Technique as an Inflation Hedge

Altvest Capital CEO Warren Wheatley stated that Bitcoin is fundamentally distinct from other digital assets, emphasizing the company’s sole emphasis on Bitcoin.

Altvest Capital, a South African investment firm, has recently announced its first investment in Bitcoin. On February 21, Altvest announced its debut into the Bitcoin market, “with a concentrated approach that does not presently include other cryptocurrencies.”

Altvest’s introduction into Bitcoin began with a simple purchase of one BTC, Altvest CEO Warren Wheatley told Cointelegraph, citing potential regulatory issues. “We have applied to the regulators to have BTC-linked equity securities listed,” he explained.

“Bitcoin is distinct from other digital assets”

According to the firm, Bitcoin has long-term development potential and serves as a hedge against macroeconomic dangers such as the weakening of South Africa’s official currency, the South African Rand.

Altvest stressed that Bitcoin is the only digital asset that meets its stringent investment standards for long-term treasury allocations.

“Bitcoin is fundamentally different from other digital assets,” Altvest CEO Warren Wheatley explained. “It is the only completely decentralized, scarce, and internationally recognized digital asset that is consistent with Altvest’s investing strategy. We see Bitcoin as a strategic reserve asset that strengthens our treasury portfolio while also protecting against economic volatility and currency devaluation.”

The business stated that it remains solely focused on Bitcoin and has no intention to invest in other cryptocurrencies or altcoins.

Why Is Altvest Suspicious About Altcoins?

Altvest’s cautious attitude to altcoins is consistent with its present view that, aside from Bitcoin, many digital assets do not fit with its investing philosophy for a variety of reasons.

Altvest raised worries about altcoin supply methods being inflationary or controlled by central entities, reliance on centralized governance systems, different levels of liquidity and market maturity, and regulatory ambiguity.

Despite its emphasis on Bitcoin, Altvest will continue to monitor market circumstances and technical improvements in the altcoin arena, the business stated.

Altvest’s comments on a Bitcoin approach against an altcoin plan come as the United States considers implementing a digital asset stockpile rather than a Bitcoin-exclusive reserve.

This aroused worries in the Bitcoin community regarding US President Donald Trump’s consideration of a reserve consisting of US based cryptocurrencies, with some accusing Ripple of pressing for a more diverse approach.

Also Read: Michael Saylor believes that the United States should buy 20% of the Bitcoin network