Altvest Capital recently made history as the first publicly traded African company to integrate Bitcoin into its treasury reserves.
This strategic shift aims to bolster financial stability and safeguard against currency devaluation.
Stafford Masie, the chairman of Altvest Capital’s board and a former Google South Africa executive, was a key figure in this decision.
A staunch Bitcoin proponent, Masie has long championed the cryptocurrency’s adoption in the region.
A Singular Focus on Bitcoin
Speaking on a podcast hosted by VALR’s Farzam Ehsani, Masie reiterated his belief that Bitcoin is the only digital asset that holds real significance.
He described other blockchain initiatives as experimental projects that attempt to address specific challenges but lack Bitcoin’s foundational strength.
Masie’s view that alternative blockchain projects dilute Bitcoin’s impact and create unnecessary distractions. He underscored Bitcoin’s unparalleled decentralization and security, positioning it as the leading cryptocurrency.
Market dynamics may create temporary divergence between Bitcoin and altcoins, but Masie remains convinced that all digital assets inevitably gravitate back to Bitcoin. His commitment to the asset remains unwavering.
“I have always believed in Bitcoin. Years ago, I made it clear—I am Bitcoin-only. Blockchain projects don’t interest me. Bitcoin is the future,” Masie declared.
Pushing for a National Bitcoin Reserve
Masie also emphasized the need for a Strategic Bitcoin Reserve (SBR) in South Africa.
Drawing comparisons to gold, he asserted that Bitcoin’s fixed supply, deflationary properties, and stock-to-flow ratio make it a superior store of value.
Advocating for government investment in Bitcoin, Masie highlighted the long-term advantages of holding the asset.
Furthermore, he outlined plans to capitalize on South Africa’s underutilized energy resources, envisioning the country as a future Bitcoin mining hub.
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