South Africa’s Altvest Plans $210M Bitcoin Treasury Rebrand

South African investment firm Altvest Capital Ltd. is set to raise $210 million to purchase Bitcoin and rebrand as Africa Bitcoin Corporation, becoming the continent's first Bitcoin Treasury company. The company plans to treat Bitcoin as a long-term store of value on its balance sheet, similar to cash or gold, aiming to preserve value, hedge against inflation, and increase shareholder exposure to Bitcoin's potential upside. Altvest's strategy offers regulated exposure to Bitcoin for institutional investors in Africa, such as pension funds and unit trusts, who typically cannot buy Bitcoin directly. The firm also intends to expand regional access by listing on exchanges in Namibia, Botswana, and Kenya, with an international listing under consideration. This move aligns Altvest with global peers like MicroStrategy and Metaplanet that have boosted their valuations through aggressive Bitcoin accumulation. The initiative will be managed by Altvest Bitcoin Strategies Pty Ltd., authorized under South Africa’s Financial Sector Conduct Authority, signaling a regulated approach to crypto services.