South African Company Bets on Bitcoin to Save Against Inflation
The first cryptocurrency will solve the key problems of the African continent – devaluation and inflation. This is what the leaders of the local company Africa Bitcoin Corporation (ABC) believe, having announced plans to attract $210 million to create a bitcoin reserve.
“In Africa, when financial services don't work, people die. We live that reality. So when we approach Bitcoin, we approach Bitcoin from a real human necessity, life-saving perspective.”@staffordmasie outlined why Bitcoin is so powerful for countries grappling with… pic.twitter.com/E24Pek9DnU
— Gareth Jenkinson (@gazza_jenks) September 10, 2025
The South African firm was previously known as Altvest Capital. In February, it became the first African company to add digital gold to its reserves. In September, it rebranded and fully transitioned to a Bitcoin treasury strategy, according to a press release.
There are currently 964,475 BTC worth over $110 billion under management by public companies. The largest holder is Michael Saylor's Strategy, which began buying the cryptocurrency in 2020.
Top 10 Largest Bitcoin Holders Among Public Companies. Source: Bitbo.
In an interview with Cointelegraph, chairman Stafford Maisie and ABC CEO Warren Wheatley noted that their business was initially focused on helping entrepreneurs and small businesses raise capital through the Johannesburg Stock Exchange.
Wheatley explained that their mission is to overcome the “dysfunction” of global capital markets, where smaller players are limited in their ability to invest. The move to forming a Bitcoin reserve is a natural evolution, he said.
The top manager described the first cryptocurrency as “an ideal alternative asset” that could strengthen the company’s balance sheet.
Maisie added that with digital gold, ABC will be able to expand support for small businesses in South Africa through new financial products. He cited lending as an example.
“We are not limited solely to the idea of a Bitcoin reserve. Our operational business has significant potential, and cryptocurrency is becoming a key competitive advantage for its implementation,” the chairman of the company's board of directors emphasized.
From Risk to Regulation: How South Africa Became a Crypto Leader on the Continent
How will Bitcoin help Africa?
According to Maisie, in developed countries in Europe and America, people view the first cryptocurrency as an alternative investment asset. In developing countries, digital gold is of great value as a means of exchange and store of value.
“In Africa, when financial services don't work, people die. We live in that reality, so we approach bitcoin from the perspective of real human need and survival,” he said.
The ABC executive added that problems such as corruption and political instability are a consequence of monetary dysfunction.
“Society is not broken – money is. Rising food prices reflect a weak currency, not an economic one,” Mazie said.
So far, the company has raised R11 million ($633,000). It aims to raise a total of $11 million in the first phase.
Recall that in August, the total volume of bitcoin reserves accumulated by companies reached a record 840,000 BTC, noted analysts at CryptoQuant. However, the size of purchases and transactions fell to annual lows.
Source: cryptonews.net
