LSD Invests 2M ZAR in Bitcoin
On the 4th January the LSD OPEN (LSD) board approved a spend of reserve capital, an initial 1M ZAR bitcoin purchase and another 1M ZAR purchase over the following two weeks for an average price of R510,000 per bitcoin. We worked with Bitfund (http://bitfund.co.za) to acquire and safely hold our position.
Our vision is to make the world more OPEN and bitcoin supports our philosophy on how we believe the world works best. Working in the open source space seems to attract many crypto enthusiasts for whom the decentralized, open nature of cryptocurrencies appeals too. We’re involved in a broad spectrum of the ecosystem, contributing to https://cryptoassets.co.za and their response to the regulators, as well as running and maintaining bitcoin full nodes, lightning nodes, eth2 staking nodes (https://github.com/lsdcapital/helm-charts), all running on Kubernetes.
I personally believe in bitcoin as a store of value over all politically centralised currencies and we’ve seen various international companies like Microstrategy and Tesla making similar investments, expressing their trust in bitcoin, or concern for fiat. The answer to many of the problems in our current systems will be solved by blockchains and DAO (decentralized autonomous organisations) and it’s such a privilege to be part of this evolution.
I am not personally aware of any other South African private (or public) companies that have taken and publicly stated their cryptocurrency position. If you have, let me know!
Founder & CEO