Altvest Capital rebrands as Africa Bitcoin Corporation, adopting a Bitcoin Treasury strategy to boost long-term value for shareholders.
Altvest Capital, the AltX-listed black-owned SME financier, will rename itself Africa Bitcoin Corporation, becoming Africa’s first Bitcoin Treasury company.
The company announced plans to acquire more Bitcoin for its treasury, following its February purchase of 1.00464 BTC. It said the strategy aims to preserve value, hedge inflation, and give shareholders exposure to Bitcoin’s upside.
Altvest also launched an equity raise of 1 million shares at R11 each, though its share price slipped 2.08% to R4.70 on the JSE after the news.
The firm joins global peers like MicroStrategy, Tesla, and Marathon Digital Holdings in holding Bitcoin as a treasury asset. As of Monday, Bitcoin trades near R1.95m per coin, up from R1.84m in February.
Despite the pivot, Altvest said its core SME funding and financial services operations—which have raised and deployed over R500m since 2022—will continue. These include credit funding, asset management, insurance, retirement planning, and wealth advisory.
Directors noted that the JSE currently lacks a crypto regulation framework but pledged to comply once one is introduced. The company also plans further capital-raising activities to expand its Bitcoin holdings.
For the year to February 28, Altvest reported R47.94m profit, boosted by an R86.22m fair value gain from its Credit Opportunities Fund due to stronger loan book performance and lower default rates.
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