21-02-2025
South African Firm to Amass Bitcoin Hoard in First for Continent
Altvest Capital Ltd. said it will become the first listed company in Africa to adopt Bitcoin as its primary treasury reserve asset, emulating a strategy that propelled a more than 2,400% surge in Michael Saylor's since it started buying the token.
Altvest bought one Bitcoin and has applied to regulators for permission to raise about 200 million rand ($10 million) by selling shares to increase its treasury stockpile, Chief Executive Officer Warren Wheatley said in an interview. He added that no final decision has been made on raising funds. Bitcoin traded at around $97,000 on Thursday.
