Africa Bitcoin Corp (ABC), formerly known as Altvest Capital, has announced plans to adopt Bitcoin as a primary reserve asset and is seeking $210 million to fund this strategy. The initiative aims to position ABC as the first publicly traded company in Africa to embrace Bitcoin for treasury purposes, offering both institutional and retail investors regulated exposure to BTC while responding to local economic challenges.
Funding Plan and Corporate Strategy
ABC has rebranded from Altvest Capital and outlined a phased approach to Bitcoin acquisition. The company has already raised 11 million rand (approximately $633,000) in its initial phase. This structured accumulation strategy mirrors efforts by firms like MicroStrategy, which currently holds around 499,096 BTC.
The company’s leadership emphasizes Bitcoin’s role in addressing systemic financial limitations in Africa. Chairman Stafford Masie stated, “When financial services don’t work, people die”, positioning Bitcoin as a practical alternative to faltering local currencies. CEO Warren Wheatley believes the move will enable Bitcoin-based financial products and strengthen the company’s balance sheet.
Regional Adoption and Market Implications
ABC’s effort comes amid rising cryptocurrency adoption in Sub-Saharan Africa, which saw a 52% increase between July 2024 and June 2025. The initiative could influence other publicly traded companies in the region to consider Bitcoin for treasury management, though it also highlights the need for secure custody solutions and clear regulatory frameworks.
Risks and Considerations
The strategy introduces notable risks, including Bitcoin’s volatility, regulatory uncertainty, and operational challenges related to custody and compliance. ABC will need to implement robust risk controls and transparent reporting to navigate these hurdles and build investor confidence.
Africa Bitcoin Corp’s planned pivot to a Bitcoin treasury represents a bold step toward institutional crypto adoption in Africa. Success will depend on meeting fundraising targets, navigating regulatory environments, and demonstrating the practical benefits of Bitcoin as a corporate reserve asset. If executed effectively, ABC could set a precedent for other African firms exploring similar strategies.
