South African Investment Firm Altvest Capital Jumps on the Bitcoin Bandwagon

South African investment company Altvest Capital is the latest firm to jump on the Bitcoin bandwagon by announcing its first investment in BTC.

South African investment company Altvest Capital has announced its first investment in Bitcoin (BTC), making it the latest firm to join the BTC bandwagon.

On Feb. 21, Altvest announced its entry into the Bitcoin market with a small purchase of 1 BTC, according to a statement shared with Cointelegraph. Altvest CEO Warren Wheatley also highlighted the company's application to regulators for listing BTC-linked equity instruments.

“Bitcoin is fundamentally different from other digital assets,” said Wheatley, further noting that BTC offers long-term growth potential and serves as a hedge against macroeconomic concerns.

Highlighting its preference for BTC over other digital assets, Altvest stated that Bitcoin is the only crypto asset that meets its stringent investment criteria for a long-term treasury allocation.

“We remain exclusively focused on Bitcoin and have no plans to invest in alternative cryptocurrencies or altcoins,” the firm added.

Altvest further noted that its cautious approach toward altcoins is due to its conclusion that many digital assets — excluding Bitcoin — do not align with its investment philosophy for several reasons.

Among the altcoin-associated concerns, Altvest mentioned risks of supply mechanisms being inflationary or controlled by central entities, dependence on centralized governance structures, varying levels of liquidity and market maturity, as well as regulatory uncertainty.

Despite focusing on BTC, Altvest will continue to assess market conditions and technological advancements in the altcoin space, the company said.

Related: Strategy's Michael Saylor says the US should aim to hold 20% of Bitcoin

Altvest's remarks on a Bitcoin strategy versus an altcoin strategy come as the United States makes moves toward adopting a digital asset stockpile instead of a Bitcoin-only reserve.

This raised concerns in the Bitcoin community about U.S. President Donald Trump's consideration of a reserve comprising U.S.-based cryptocurrencies, with some even accusing Ripple of lobbying for a diversified approach.