South Africa may soon make history in the world of digital finance. Altvest Capital Ltd., a Johannesburg-listed investment firm, announced on Monday that it plans to raise $210 million to purchase Bitcoin and turn it into its core treasury asset.
The move would make it the first publicly traded African company to diversify its financial strategy entirely around Bitcoin.
Altvest to rebrand as Africa Bitcoin Corp soon
Warren Wheatley, the Founder and Chief Executive Officer, noted that the company will rebrand as Africa Bitcoin Corp as part of their complete shift into the digital asset economy.
The move reflects a growing global trend, similar to the strategies taken by Michael Saylor’s MicroStrategy in the United States and Metaplanet in Japan. Both companies experienced a significant value boost after making Bitcoin a core part of their reserves.
RelatedPosts
Altvest, valued at about $3 million, wants to build a crypto treasury far greater than its market capitalisation. Wheatley believes this approach will open new doors for investors otherwise locked out of the digital asset market.
“Pension funds, retirement annuities, unit trusts and others usually cannot directly buy Bitcoin,” he explained. “But by buying our shares, they will now be able to get exposure in a regulated way through equity.”
The strategy could prove significant for Africa’s regulated investment landscape. Institutional investors, including pension funds and insurance firms, face restrictions on holding cryptocurrencies directly.
By structuring Bitcoin exposure through its publicly traded shares, they plan to offer a potential bridge between traditional finance and the fast-growing world of digital assets.
To broaden access further, the company is planning listings beyond South Africa. It intends to raise capital from both local and foreign investors and pursue secondary listings across African exchanges such as Namibia, Botswana, and Kenya. It is also eyeing an international listing to attract global capital.
Despite the vision, questions remain about the feasibility of the plan. Their current market capitalisation is a fraction of the $210 million it seeks to raise.
Its bold treasury strategy depends on convincing investors that Bitcoin’s long-term trajectory outweighs its notorious volatility.
However, the timing may favour it. Bitcoin has nearly doubled in value over recent months, trading above $111,000.
At the same time, cryptocurrency adoption across Africa is accelerating, with Nigeria ranking sixth globally in usage and Sub-Saharan Africa recording a 52 per cent adoption growth rate in the past year.
About Altvest Capital
Altvest Capital was founded in 2022 to democratise access to alternative assets in Africa. The firm provides funding solutions for small and medium-sized enterprises (SMEs), hospitality ventures, and other sectors and offers credit, equity funding, insurance, wealth management, and advisory services.
The firm has already raised and deployed over R500 million through its subsidiaries, helping to create and sustain thousands of jobs.
Positioned as a bridge between traditional finance and new opportunities, they continue to support entrepreneurs with innovative, sustainable financial solutions that drive growth in the real economy.