PANews reported on September 8th that Bloomberg News reported that South African publicly listed company Altvest Capital Ltd. plans to raise $210 million to purchase Bitcoin and establish a crypto treasury reserve, hoping to benefit from the near-doubling of digital asset prices over the past year. Founder and CEO Warren Wheatley stated in an interview that the company, which will also be renamed "Africa Bitcoin Corp.", is raising funds from overseas and local investors and will seek an international listing. Altvest Bitcoin Strategies Pty Ltd., a subsidiary of the company, will provide crypto services on behalf of CAEP Asset Managers Pty Ltd., which is authorized by the Financial Sector Conduct Authority. Altvest, with a market capitalization of 52.8 million rand ($3 million), will hold cryptocurrencies as core reserve assets on its balance sheet, similar to how companies traditionally hold cash or gold.PANews reported on September 8th that Bloomberg News reported that South African publicly listed company Altvest Capital Ltd. plans to raise $210 million to purchase Bitcoin and establish a crypto treasury reserve, hoping to benefit from the near-doubling of digital asset prices over the past year. Founder and CEO Warren Wheatley stated in an interview that the company, which will also be renamed "Africa Bitcoin Corp.", is raising funds from overseas and local investors and will seek an international listing. Altvest Bitcoin Strategies Pty Ltd., a subsidiary of the company, will provide crypto services on behalf of CAEP Asset Managers Pty Ltd., which is authorized by the Financial Sector Conduct Authority. Altvest, with a market capitalization of 52.8 million rand ($3 million), will hold cryptocurrencies as core reserve assets on its balance sheet, similar to how companies traditionally hold cash or gold.
South African listed company Altvest plans to raise $210 million to buy Bitcoin
PANews reported on September 8th that Bloomberg News reported that South African publicly listed company Altvest Capital Ltd. plans to raise $210 million to purchase Bitcoin and establish a crypto treasury reserve, hoping to benefit from the near-doubling of digital asset prices over the past year. Founder and CEO Warren Wheatley stated in an interview that the company, which will also be renamed "Africa Bitcoin Corp.", is raising funds from overseas and local investors and will seek an international listing. Altvest Bitcoin Strategies Pty Ltd., a subsidiary of the company, will provide crypto services on behalf of CAEP Asset Managers Pty Ltd., which is authorized by the Financial Sector Conduct Authority. Altvest, with a market capitalization of 52.8 million rand ($3 million), will hold cryptocurrencies as core reserve assets on its balance sheet, similar to how companies traditionally hold cash or gold.
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