South African investment platform Altvest Capital has said it will adopt bitcoin as its primary treasury reserve asset, making it the first publicly listed company in the African continent to do so.

The European Central Bank (ECB) has announced a plan to establish a payment system to settle transactions in central bank money in a two-pronged approach.

The launch of Microsoft’s new quantum computing chip, Majorana 1, has reignited discussions about bitcoin’s potential vulnerability to quantum computer attacks, prompting a range of reactions in the industry.

Top stories in the Crypto Roundup today:

• South African Firm Altvest Adopts Bitcoin as Primary Treasury Asset
• ECB Unveils Two-Pronged Plan for Central Bank Money Settlement Platform
• Microsoft's Quantum Leap Sparks Bitcoin Security Concerns

South African Firm Altvest Adopts Bitcoin as Primary Treasury Asset

South African investment platform Altvest Capital has said it will adopt bitcoin as its primary treasury reserve asset, making it the first publicly listed company in the African continent to do so.

Warren Wheatley, Altvest’s chief executive officer, revealed the company has acquired one bitcoin and filed with regulators to raise up to 200 million rand ($10 million) through a share offering to increase its bitcoin holdings.

“We see Bitcoin as a strategic reserve asset that enhances our treasury portfolio while providing a hedge against economic instability and currency depreciation, particularly the depreciation of the South African Rand,” Wheatley said.

Using corporate funds and, in some cases, borrowed capital to invest in bitcoin is becoming increasingly popular as cryptocurrency adoption keeps growing.

ECB Unveils Two-Pronged Plan for Central Bank Money Settlement Platform

The European Central Bank (ECB) has announced a plan to establish a payment system to settle transactions in central bank money in a two-pronged approach.

The phases of the ECB’s plan would involve the creation of a settlement platform that will facilitate transactions in central bank money and exploring a long-term solution for using said central bank money in digital ledger-based transactions.

Piero Cipollone, an ECB Executive Board member leading the approach, said the central bank is “embracing innovation without compromising on safety and stability.” He added it’s an “important contribution to enhancing European financial market efficiency through innovation.”

Microsoft's Quantum Leap Sparks Bitcoin Security Concerns

The launch of Microsoft’s new quantum computing chip, Majorana 1, has reignited discussions about bitcoin’s potential vulnerability to quantum computer attacks, prompting a range of reactions in the industry.

Bitcoin exchange River raised concerns on social media that Microsoft’s advancement could shorten the timeline for a quantum computer capable of cracking BTC addresses to be developed.

While such a quantum computer is still far off, River estimates one capable of reaching the 1 million qubit mark could be developed by 2027-2029. The firm added: “When run for several days to weeks, a 1-million qubit QC could potentially crack Bitcoin addresses via a long-range attack.”

Some critics argue that if such a quantum computer were to be developed and weaponized, it would first be aimed at large financial institutions rather than bitcoin wallets.

Prominent cryptographer Adam Back has argued that post-quantum signature research will lead to improved, more efficient signatures that could be integrated into the bitcoin network to strengthen it.

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