This comes after Altvest became the first listed company in Africa to adopt Bitcoin as its primary treasury reserve asset in February 2025.
Earlier this year, Altvest bought one Bitcoin (BTC) as part of its long-term treasury management strategy.
It also applied to regulators for permission to raise about R200 million by selling shares to increase its treasury stockpile.
The company stated at the time that it would continue to monitor its Bitcoin holdings in light of market conditions and regulatory developments.
On Monday, 8 September, Altvest informed shareholders that it has formally adopted its Bitcoin Treasury Strategy.
This strategy will see the company accumulate and hold Bitcoin to preserve value, hedge against inflation, and increase long-term shareholder exposure to the cryptocurrency’s potential upside.
“The board is of the view that this strategic shift, which will position Altvest as Africa’s first Bitcoin Treasury company, will offer its shareholders long-term value anchored in a resilient and globally liquid asset,” the company said.
It noted that the JSE does not currently have any regulatory framework in place to regulate issuers investing in crypto assets. However, it added that once the JSE establishes such a framework, Altvest will adhere to it.
“Altvest will embark on various capital raising initiatives over the coming months in order to raise funds to acquire BTC,” the company said.
In addition, the company proposed changing its name from Altvest Capital to The Africa Bitcoin Corporation.
While still subject to shareholder approval, the company said this name change would better reflect its strategic repositioning and broader operational focus.
It said the new name is intended to align its corporate identity and brand with the adoption of its Bitcoin Treasury Strategy.
“The board is also of the view that its Bitcoin Treasury Strategy is aligned with the company’s core mandate of democratising access to alternative investment opportunities,” it said.
It added that its existing income-generating operations and legacy investments will continue uninterrupted.
“This structure ensures that shareholders will benefit both from the upside of Altvest’s Bitcoin Treasury Strategy, as well as the stable earnings profile of its established operations,” it said.
Issued on Daily Investor by Blanke Neethling | https://dailyinvestor.com/cryptocurrency/100975/jse-listed-company-bets-big-on-bitcoin/
