Bitcoin has hit its lowest price since November and is set for its biggest weekly fall in over two years.
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Bitcoin is now down more than 25% from the all-time high it set less than six weeks ago.
Bitcoin fell below $90 000 for the first time in more than a month, becoming the latest victim of a widening rout in crypto.
The move by Altvest, which emulates US company MicroStrategy, will “fully comply with relevant financial regulations”.
The taxman’s new crypto asset unit is using information from cryptocurrency exchanges to flag non-compliant persons.
Community group scams are a growing concern in the digital age, particularly in the cryptocurrency space.
Montegray Capital chairman Michael Jordaan said this week that South Africa has more important short-term priorities.
After outperforming most asset classes in 2024, bitcoin now finds itself under pressure amid global instability.
DA federal chair Helen Zille is bullish about bitcoin but has said it shouldn’t be used in South Africa’s strategic reserve.
European Central Bank president Christine Lagarde said it’s improbable that any EU country will choose to add bitcoin to its monetary reserves.