South African listed company Altvest plans to raise $210 million to purchase Bitcoin.

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PANews, September 8th news, according to Bloomberg, South African listed company Altvest Capital Ltd. plans to raise $210 million to purchase Bitcoin and establish a crypto vault reserve, hoping to benefit from the nearly doubling of digital asset prices over the past year. The company's founder and CEO, Warren Wheatley, stated in an interview that the company will also change its name to "Africa Bitcoin Corp." and is raising funds from overseas and local investors, while seeking to go public internationally. The company's Altvest Bitcoin Strategies Pty Ltd. will represent CAEP Asset Managers Pty Ltd., which is authorized by the Financial Sector Conduct Authority to provide crypto services. Altvest's market capitalization is 52.8 million Rand ($3 million), and it will treat crypto assets as a core reserve asset on its balance sheet, similar to how companies traditionally hold cash or gold.

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