Ah, the sweet scent of controversy wafts through the air as Stafford Masie, chairman of Altvest Capital’s board of directors, declares his undying love for Bitcoin and his utter disd for all other blockchain projects. One might say he’s a Bitcoin maximalist, but that would be far too pedestrian a term for such a passionate devotee.
In a recent podcast with VALR’s Farzam Ehsani, Masie, the former head of Google for South Africa, proclaimed that he sees every other blockchain as nothing more than a fascinating computer science project, a mere copycat of Bitcoin attempting to solve a niche problem, like offering a scalability solution for a challenge.
Bitcoin or Bust: Altvest’s Board Chairman Dismisses Other Blockchain Projects
Masie’s unwavering support for Bitcoin is not surprising, given that Altvest Capital recently became the first publicly traded African company to adopt Bitcoin as a treasury reserve asset. The move was part of a broader treasury management strategy aimed at strengthening the firm’s financial resilience and protecting its business from currency depreciation risks.
But Masie’s love for Bitcoin goes beyond mere corporate strategy. He believes that whatever happens in “Bitcoin land” eventually ends up in the BTC space over the long term. As he so eloquently put it, “I am Bitcoin. I’ve always been Bitcoin.”
“But me, I am Bitcoin. I’ve always been Bitcoin. I mean, I’ve said it years ago. I don’t believe in blockchain projects…I love Bitcoin. I’m in Bitcoin and Bitcoin only. I’m a maxi,” the Altvest board chairman stated.
The Need for a South African SBR
Masie also compared Bitcoin to gold, asserting that the cryptocurrency has greater characteristics than the precious metal. He cited Bitcoin’s deflationary model, fixed supply, and stock-to-flow ratio as evidence of its superiority.
The Altvest board chairman believes that South Africans need to lobby for the government to invest a portion of national funds into Bitcoin because the long-term benefits are substantial. In the meantime, Masie intends to utilize unused energy in South Africa to turn the country into a Bitcoin mining hub over the next few years.
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2025-02-24 23:17