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South African investment firm Altvest Capital Ltd. has announced plans to raise $210 million for its new Altvest Bitcoin treasury, rebranding itself as Africa Bitcoin Corp in the process. The move positions Altvest as the first listed company in Africa to formally adopt Bitcoin as its primary treasury reserve asset, echoing strategies pioneered by U.S. firm MicroStrategy and Japan’s Metaplanet.
With this decision, institutional and retail investors across Africa could gain regulated Bitcoin exposure through equity markets—an option rarely accessible in the region.
“The Altvest Bitcoin treasury is a gateway for African institutions to enter Bitcoin markets without navigating unregulated channels,” — Warren Wheatley, Founder & CEO, Altvest Capital.
The announcement comes as Bitcoin trades near $110,942, up 95% over the past year, highlighting growing demand for corporate adoption of the asset.
Regulated Bitcoin access for African institutions
Altvest plans to hold Bitcoin directly on its balance sheet, treating it as a long-term store of value comparable to cash or gold. According to CEO Warren Wheatley, the Altvest Bitcoin treasury will create a regulated channel for exposure that pension funds, retirement annuities, and unit trusts could not previously access.
“Pension funds and retirement annuities usually cannot directly buy Bitcoin. But through the Altvest Bitcoin treasury, they can gain exposure by simply buying our shares,” — Wheatley explained.
The company will seek investment from both African and international markets, with upcoming listings planned in Namibia, Botswana, and Kenya, alongside a potential global exchange listing.
The rebrand to Africa Bitcoin Corp underscores Altvest’s commitment to align its corporate identity with its Bitcoin-centric treasury strategy. Through its subsidiary, Altvest Bitcoin Strategies Pty Ltd., the firm will manage the treasury under the oversight of South Africa’s Financial Sector Conduct Authority (FSCA) via CAEP Asset Managers Pty Ltd.
Industry experts view the Altvest Bitcoin treasury as a milestone in Africa’s crypto journey. By embedding Bitcoin into its corporate reserves, Altvest is signaling its confidence in digital assets as a legitimate reserve currency for corporate finance.
“Subsidizing Bitcoin adoption through equity markets could change how African companies think about reserves,” — financial analyst Sipho Dlamini, Johannesburg School of Finance.
Altvest’s move comes at a time when public companies worldwide collectively hold over 1 million BTC, intensifying competition for limited supply.
MicroStrategy leads with 636,505 BTC, followed by MARA Holdings with 52,477 BTC. Other major holders include XXI (43,514 BTC), Bitcoin Standard Treasury Company (30,021 BTC), Bullish exchange (24,000 BTC), and Metaplanet (20,000 BTC).
With just 5.2% of Bitcoin’s 21 million total supply left to be mined, analysts argue that corporate treasuries like the Altvest Bitcoin treasury could accelerate supply scarcity.
Japan’s Metaplanet and U.S.-based Semler Scientific have already set aggressive accumulation targets of 210,000 BTC and 105,000 BTC by 2027, signaling a long-term corporate demand wave that may push prices further upward.
Until now, African companies have played a marginal role in global Bitcoin treasuries. Altvest’s initiative represents a significant shift, with South Africa joining countries like Canada, the UK, Hong Kong, Mexico, and Bahrain, where corporate Bitcoin holdings are growing rapidly.
For Altvest, the pivot could also revive investor confidence. Despite a 25% decline in Altvest shares over the past year, the firm’s Bitcoin-focused strategy could attract new investors looking for equity-based Bitcoin exposure within regulated African markets.
By establishing the Altvest Bitcoin treasury, the company is not only securing its financial future but also positioning Africa on the map of global corporate Bitcoin adoption.
