South African investment firm Altvest Capital is raising $210 million to acquire Bitcoin and establish a dedicated crypto treasury for the company, rebranding as Africa Bitcoin Corp. This strategic move reflects growing institutional interest in Bitcoin across the continent. The firm plans to capitalize on rising prices of the leading cryptocurrency and position itself as a pioneer for Bitcoin adoption within Africa’s corporate landscape. 1. Altvest Capital is raising $210 million in total for this endeavor, with the company’s subsidiary, Altvest Bitcoin Strategies Pty Ltd., focusing on crypto services under authorization from South Africa’s Financial Sector Conduct Authority (FSCA). 2. The firm explicitly prioritizes Bitcoin due to its scarcity and decentralized nature as a hedge against economic volatility and currency depreciation within South Africa. 3. Altvest Capital aims to leverage the stability and long-term growth potential of Bitcoin for their investment portfolio, aligning with global corporate strategies like those seen by MicroStrategy’s accumulation of Bitcoin. 4. The rebranding signifies Altvest’s commitment to leading Bitcoin adoption in Africa, supporting entrepreneurial ventures and economic development in the process. 5. Altvest Capital has purchased an initial Bitcoin to demonstrate its commitment to the crypto economy and is currently applying for regulatory approval for listing Bitcoin-linked equity instruments. 6. This move reflects a wider trend of institutional acceptance of Bitcoin in Africa and signals the increased mainstream appeal of digital assets as potential treasury reserves within businesses.