South African investment firm Altvest Capital Ltd. announced plans to raise $210 million to establish a Bitcoin Treasury.
This is a rather significant move for African markets and the move positions Altvest as Africa’s first listed company to adopt Bitcoin as its primary reserve asset.
In a surprising turn, the firm will also rebrand as Africa Bitcoin Corp., according to a Bloomberg report.
Strategic Shift to Bitcoin Treasury
Altvest is currently valued at approximately $3 million and aims to follow the footsteps of companies like Strategy and Japan’s Metaplanet.
These companies have significantly increased their valuations by accumulating Bitcoin as a treasury reserve.
By holding Bitcoin directly on its balance sheet, Altvest will treat the cryptocurrency as a long-term store of value.
Warren Wheatley, Altvest’s Founder and CEO said this helps investors gain exposure to Bitcoin.
“This strategy allows institutional investors, such as pension funds and unit trusts, to gain regulated exposure to Bitcoin through equity markets,” he said.
“These entities typically cannot directly purchase Bitcoin, but by investing in our shares, they can now access this asset class in a compliant, equity-based structure.”
Capital Raise and Regional Expansion
To fund its Bitcoin Treasury, Altvest seeks investments from both African and international markets.
Altvest plans to list its shares on exchanges in Namibia, Botswana, and Kenya to broaden regional access.
Additionally, Altvest is exploring an international listing to attract global investors.
The initiative will be managed through Altvest Bitcoin Strategies Pty Ltd., a subsidiary authorized by CAEP Asset Managers Pty Ltd.
Bitcoin’s Rising Corporate Appeal and Altvest’s Vision for Africa
Globally, corporate adoption of Bitcoin as a treasury asset is accelerating.
Public companies now hold over 1 million Bitcoin, with MicroStrategy leading the pack at 636,505 BTC.
Other notable holders include MARA Holdings with 52,477 BTC, XXI with 43,514 BTC, and Bitcoin Standard Treasury Company with 30,021 BTC.
Additional players, such as Metaplanet, Bullish, Riot Platforms, Trump Media & Technology Group, CleanSpark, and Coinbase, are also amassing significant Bitcoin reserves.
Ambitious targets set by firms like Japan’s Metaplanet (210,000 BTC) and U.S.-based Semler Scientific (105,000 BTC) by 2027 highlight the growing corporate appetite for Bitcoin as a Bitcoin Treasury asset.
By establishing a Bitcoin Treasury and rebranding as Africa Bitcoin Corp., Altvest aims to lead the charge in integrating cryptocurrency into Africa’s financial markets.
