Africa Bitcoin Corporation (ABC), the continent’s first listed bitcoin treasury firm, has increased its cryptocurrency reserves with the purchase of 1.35 bitcoin, lifting its total holdings to 4.55 BTC, valued at approximately R4.7 million at current prices.
The latest acquisition was completed at an average cost of R1.14 million per coin, slightly above the prevailing market price of about R1.07 million.
Although modest in scale, the company has signalled plans to accelerate its accumulation strategy. ABC has drawn comparisons to US-listed Strategy, led by Michael Saylor, which has built a holding exceeding 730,000 bitcoin through a combination of debt issuance and equity offerings.
To support future purchases, ABC announced plans to issue R100 million in 10-year notes under a broader R5 billion domestic medium-term note programme. The notes are expected to be listed on the Cape Town Stock Exchange. The most recent acquisition was funded through a R1.5 million bank facility and internal cash resources.
In parallel with its bitcoin strategy, ABC continues to operate its core SME lending and advisory business. The company says it aims to strengthen its balance sheet with digital assets while providing financial support to small and medium-sized enterprises across Africa.
At present, ABC’s bitcoin exposure equates to roughly 40 satoshis per share, substantially below the levels reported by larger bitcoin treasury companies such as Strategy and Japan’s Metaplanet.
Source: Moneyweb
