South African firms start investing their cash in bitcoin
South African firms start investing their cash in bitcoin It’s certainly not at the same scale as a Tesla or a MicroStrategy, but some privately held South African firms have started converting a portion of their cash holdings into cryptocurrencies like bitcoin. Industry players expect the trend to accelerate — and quickly. One of the first — if not the very first — South African companies to take the plunge is open-source software specialist LSD Open, which has bought R2-million worth of bitcoin to hold in its treasury. On 4 January, before Elon Musk announced his intention to ...