South Africa’s Altvest Plans $210M BTC Treasury, Rebrands as Africa BTC Corp

Altvest, a South Africa-based investment company focused on small businesses, in a recent post that it will transition into a BTC-focused corporation.

The company plans to update its balance sheet to include BTC as a corporate reserve under its treasury strategy. It is viewking to raise $210 million, according to Yahoo Finance.

Currently valued at $3 million, Altvest will become the first African company to hold BTC as a treasury asset, positioning itself for global competition.

As part of its new direction, the company will rebrand and rename itself Africa BTC Corporation (ABC). Despite the shift, it will maintain its SME advisory and lending arm.

The firm has opened its doors to investor participation, inviting them to subscribe to its securities, including corporate securities and non-redeemable shares. The company claims this will give investors direct exposure to BTC.

CEO and founder Warren Wheatley explained that pension funds, retirement annuities, unit trusts, and similar vehicles usually cannot directly purchase BTC. “By purchaseing our shares, they will now be able to gain exposure in a regulated way through equity,” he said.

BTC Treasuries Gain Momentum

The BTC treasury trend has continued to expand as more companies adopt the asset. Earlier in September, , becoming the largest European company to hold BTC.

At the time of writing, CoinGecko data shows that 115 companies hold BTC reserves, collectively amounting to over 1.496 million BTC, or 7.31% of the total supply.

holds the largest share among corporate holders, representing 3% of BTC’s total supply, later than adding another 1,955 BTC earlier in the day.

Similarly, to its reserves, securing its position as the ninth-largest corporate BTC holder.