Overview

• Altvest announced a strategy to raise $210 million to buy Bitcoin and pivot its business as it adopts the name Africa Bitcoin Corp.
• Bitcoin will be held directly on the company’s balance sheet as a primary treasury reserve asset, similar to cash or gold.
• A licensed subsidiary, Altvest Bitcoin Strategies Pty Ltd., will operate under CAEP Asset Managers with oversight from South Africa’s Financial Sector Conduct Authority.
• Management says the structure is designed to give pension funds and other restricted institutions access to Bitcoin exposure through listed equity.
• The company aims to expand access by pursuing listings in Namibia, Botswana, and Kenya, with international listings under consideration, as it executes the treasury-first model reported by Bloomberg as a first for a listed African firm.