A new Bitcoin treasury play is emerging out of South Africa. Altvest Capital, a Johannesburg-listed investment firm, is seeking to raise $210 million to acquire Bitcoin for its balance sheet, positioning itself as Africa’s first public company with BTC as its primary reserve asset.
CEO Warren Wheatley confirmed that the firm will rebrand as Africa Bitcoin Corp, signaling a complete pivot toward digital assets. The company’s strategy mirrors the high-profile treasury models of Strategy Inc. in the U.S. and Metaplanet in Japan, both of which have turned Bitcoin accumulation into multi-billion-dollar balance sheet bets.
Treasury-First Model
Altvest, which currently has a market cap of just $3 million, wants to transform by holding Bitcoin in the same way traditional companies hold cash or gold. Smaller firms across the globe are experimenting with similar approaches, hoping long-term BTC exposure will attract investors who can’t easily access the asset directly.
Bridging Institutional Barriers
Wheatley emphasized that while many pension funds and investment vehicles are restricted from direct crypto purchases, they can gain exposure indirectly through shares in a listed company like Altvest. The strategy could give regulated institutions across Africa and beyond a foothold in Bitcoin.
Expansion Plans Across Africa and Beyond
To widen its investor base, Altvest intends to pursue listings on multiple African exchanges, including Namibia, Botswana, and Kenya, alongside international markets. A dedicated subsidiary, Altvest Bitcoin Strategies Pty Ltd., will also provide crypto-related services under CAEP Asset Managers’ license.
If successful, the initiative would not only reshape Altvest but also put Africa on the map in the growing trend of publicly traded Bitcoin treasury companies.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/africas-first-public-bitcoin-treasury-altvest-aims-to-raise-210m/