Inkampani yokuqala yase-Afrika edweliswe nguNondyebo we-JSE: Yintoni ekufuneka bayazi abatyali-mali baseMzantsi Afrika
I-Africa Bitcoin Corporation, inkampani eyayifudula ibizwa ngokuba yi-Altvest, lishishini lokuqala elidweliswe kwi-JSE ukubamba i-Bitcoin njenge-asethi engundoqo kanondyebo. Oko kunika abatyali-mali baseMzantsi Afrika indlela entsha eya kwi-Bitcoin ekuvezweni: i-equity kwinkampani ephethe ingqekembe, ethengwe ngomthengisi wempahla oqhelekileyo. Ayisiyonto ifana nokuba neBitcoin kwaye iyantlukwano ibonakala kwirhafu, ukugcinwa kunye nokulandelela.
Ukuthathwa okungundoqo
Izabelo ze-ABC libango kwinkampani ebambe iBitcoin. Abayi-Bitcoin. Izabelo zihambelana nezigunyaziso zeziko ezingakwaziyo ukubamba ingqekembe ngokuthe ngqo kwaye barhweba ngomthengisi wempahla eqhelekileyo ngelixa inkampani iphethe. Ubunikazi obuthe ngqo bukunika ulawulo lwezitshixo, ukulandelwa kwexabiso elicocekileyo kwaye akukho mngcipheko wexabiso le-asethi ye-premium-to-net (NAV). Akukho ndlela ingalunganga. Benza imisebenzi eyahlukeneyo kwaye efanelekileyo ixhomekeke ekubeni yimali kabani kwaye yintoni isigunyaziso esivumelayo.
Yintoni i-Africa Bitcoin Corporation ngokwenene
Qala ngento ngokwayo, kuba igama lenza umsebenzi omninzi. I-Africa Bitcoin Corporation, i-ABC kubanini-zabelo bayo, yaqala ubomi njenge-Altvest yaze yaphinda yavela njengenkampani yokuqala edwelisiweyo kwi-JSE ephethe i-Bitcoin njenge-asethi engundoqo kanondyebo. Umsebenzi wayo ochaziweyo kukubamba iBitcoin kunye nokukhulisa ixabiso labaninizabelo njengoko iBitcoin ixabisa ngokuhamba kwexesha. Ayikokutshintshana. Ayiloshishini leenkonzo zemali. Yinkampani yokubamba i-asethi yayo ephambili yi-Bitcoin kwaye uqoqosho lwayo lwehla kumsantsa phakathi kwexabiso layo lemali kunye neendleko zokuqhuba umsebenzi.
Eso sivakalisi sokugqibela yimodeli yeshishini lonke.
Inkampani inyuse ikomkhulu layo ngendlela iinkampani ezidwelisiweyo ezenza ngayo, ngokunikezela ngamalungelo kunye nokukhutshwa kwesabelo esitsha. Abatyali-mali abathatha ezo zabelo bathenga ibango le-fractional kwi-Bitcoin inkampani ephethe, kungekhona i-Bitcoin ngokwayo. Umahluko uvakala njenge-pedantic de uwuvavanye. Umnini-sabelo we-ABC akakwazi ukurhoxisa ingqekembe, akakwazi ukuqinisekisa ukubamba ngokuchasene ne-node yabo kwaye akakwazi ukuhambisa i-satoshi enye naphi na kwinethiwekhi. Inkampani ingumnini we-asethi. Umnini-sabelo ungumnikazi wephepha elibhekisela kulo kwaye akukho nto ingaphezulu.
Izabelo zorhwebo kwi-JSE ngoluhlu kwi-A2X, kwi-NSX eNamibia nakwi-OTCQB kubatyali-mali baseMelika, ngoko kukho ukungabikho kwemali kwiiyure zemarike nangayiphi na i-stockbroker eqhelekileyo. I-Bitcoin ngokwayo ihleli kunye nomgcini oqeqeshiweyo kunokuba kunye nenkampani ngokuthe ngqo, ilungiselelo elenzelwe ukugcina iingqekembe zicacile ngokusilela kwenkampani. Eso sisakhiwo esinengqiqo. Ikwasisikhumbuzo sokuba zingaphi iileya ngoku ezimiyo phakathi kwakho kunye ne-asethi: i-broker yakho, utshintshiselwano, inkampani, umgcini wayo. Ubunini obuthe ngqo abunabo.
Apho incwadi yokudlala yenkampani kanondyebo ivela khona
Umbono awuzange uqale eRhawutini. Ngo-Agasti ka-2020 inkampani yesoftware yaseMelika ebizwa ngokuba yiMicroStrategy, ukusukela oko yathiywa ngokutsha iQhinga, yaguqula i-asethi ye-balance sheet yaba yiBitcoin kwaye yahlala ithenga. Imakethi iphinde yayilinganisa ukusuka kwi-1.78 yeebhiliyoni zeedola ukuya kwi-100 yeebhiliyoni zeedola. Ekuqaleni kuka-2025 inkampani yabamba i-479,000 BTC, eyona nto inkulu ye-treasury emhlabeni. Ubuncinci iinkampani ezingama-89 ezirhweba esidlangalaleni zaziyilandele ngendlela enye ngelo xesha.
Amanani ahlanganisiweyo ajike umdla waba ludidi. Ukwamkelwa kweBitcoin ngokuphindwe kabini ngo-2024. Amashishini ongeze i-374,000 BTC kumaphepha awo ebhalansi kulo nyaka omnye kwaye ekuqaleni kuka-2025 abamba malunga ne-914,000 ye-BTC phakathi kwabo, malunga ne-4.4% yayo yonke i-Bitcoin eya kuhlala ikhona. Inkampani kanondyebo yeyona ndlela ibukhali yokubonakalisa eliza libanzi leziko.
Ubuchule bukwanike imodeli ibhodi yayo yamanqaku, i-metric ebizwa ngokuba yi-BTC Yield elinganisa ukukhula kwi-Bitcoin holdings ngesabelo ngasinye. Umvuzo ngesabelo ngasinye awubonakali. Iingqekembe ngesabelo ngasinye yenza. Ngo-2024 iQhinga labika iSivuno se-BTC se-103%, okuthetha ukuba i-Bitcoin imi emva kwesabelo ngasinye ngaphezu kokuphindwe kabini ngonyaka ngaphandle kokuba abanini-zabelo bathenge nantoni na. Yindlela enyanisekileyo yokugweba nayiphi na inkampani kanondyebo, i-ABC ibandakanyiwe, kuba ayihoyi ixabiso leBitcoin kunye nemo yemarike kwaye ibuza kuphela ukuba ngaba abaphathi bayakhula yintoni exhasa isabelo ngasinye.
Loo matshini ulifanele icandelo lawo, kuba usika iindlela zombini.
Iprimiyamu kunye noomatshini bokuhlamba phantsi kwexabiso lesabelo
Inkampani nganye kanondyebo inexabiso le-asethi: ixabiso lemarike yeBitcoin yalo yahlulwe ngenani lezabelo ezikhutshiweyo. Ixabiso lesabelo alikho phantsi koxanduva lokulihlonipha. Xa imfuno iqhuba ishushu izabelo zorhwebo ngaphezu kwe-NAV, kwi-premium, oku kuthetha ukuba abathengi bahlawula ngaphezulu kweyunithi nganye yeBitcoin kuneendleko zengqekembe ezifanayo kwimarike evulekileyo. Hlawula amaxesha ayi-1.5 nge-NAV kwaye unikezele nge-R1.50 nge-R1.00 nganye ye-Bitcoin ngaphakathi kwephepha lokusonga.
Iintlawulo zanyanga le azikho ngqiqweni ngokwenkcazo. I-capital egunyazisiweyo engakwaziyo ukuchukumisa ingqekembe iya kuhlawulela ingcango edwelisiweyo kuphela ekhoyo kwaye abanye abatyali-mali bahlawula i-acretion elindelekileyo, ithemba lokuba abaphathi baya kusebenzisa i-premium ukukhulisa iingqekembe ngesabelo ngasinye. Ingxaki kukuba i-premium yimvakalelo kunye novakalelo yimozulu.
I-flywheel isebenza ngolu hlobo. Inkampani ethengisa ngaphezulu kwe-NAV ikhupha izabelo ezitsha kwaye isebenzisa imali ukuthenga i-Bitcoin. Ngenxa yokuba izabelo zithengiswe ngaphezu kweBitcoin emva kwazo, ukunyuswa kongeza ingqekembe yemali ngesabelo ngasinye kunokuba inikezela kwaye abanini abakhoyo baphela nebango elikhulu. Yidilution etyebisayo. Yiloo ndlela iQhinga eliprinte ngayo i-103% kwaye liqhinga yonke inkampani kanondyebo enethemba lokuphinda.
Ngoku yibalekise umva. Vumela imvakalelo ipholile de izabelo zirhweba ngaphantsi kwe-NAV kunye nayo yonke i-lever jams. Ukukhupha izabelo ngesaphulelo kutshabalalisa ingqekembe yemali ngesabelo ngasinye, ngoko ke ukunyusa imali eyinkunzi kunciphisa ngendlela eqhelekileyo ebuhlungu. Ukuthengisa i-Bitcoin ukuthenga izabelo zokubuyisela kuya kuvala isithuba kodwa iphula ibali inkampani eyakhiwe kuyo. Inkampani kanondyebo ebambelele kwisaphulelo sisikhitshane esinomoya kwicala elingalunganga kwaye abanini-zabelo bafumanisa ukuba imbuyekezo yabo inezahlulo ezintathu ezihambayo: ixabiso leBitcoin, utshintsho kwiprimiyamu kunye nokutshintsha kweengqekembe ngesabelo ngasinye. Thenga ingqekembe ngokuthe ngqo kwaye uphathe inguqu enye endaweni yezintathu.
Ndajonga imodeli ngokwemiqathango ngokubanzi, kude naliphi na igama elinye, kum ukuphononongwa kweenkampani ze-Bitcoin zobuncwane. Oomatshini basebenza kwa-ABC kanye njengoko besebenza kwi-Strategy, nje kwisikali sase-Johannesburg kunye ne-Johannesburg liquidity.
Izabelo ze-ABC ngokuchasene neBitcoin kugcino lwakho
Ukugcinwa kowona mahluko ucocekileyo. Eyakhe i-ABC kunye nelungelo lokugcina yingxaki yenkampani, ephethwe ngumgcini ongamkhethanga kwaye ongenakumbuyisela. Ingqekembe eyeyakho ngokuthe ngqo kwaye ulungiselelo lolwakho: isipaji sehardware, ivault yemultisig, umgcini omkhethileyo kwaye unokuhamba nanini na xa uthanda. Olo lawulo luyinjongo epheleleyo I-Bitcoin njenge-asethi yomphathi. Isiqinisekiso sesabelo esisalatha ingqekembe kwivault yomnye umntu sigcina ukuvezwa kwexabiso kwaye sinikezela ngobunini.
Iphepha lifanelekile. Ingqekembe yemali yipropati.
Irhafu iqhutywa ngeendlela ezahlukeneyo. Thengisa iBitcoin oyibambeyo kwaye i-SARS irhafisa inzuzo kwingqekembe. Thengisa i-ABC kunye ne-SARS irhafu inzuzo kwisabelo, esingeyiyo inani elifanayo. Ukuba ixabiso lesabelo liphakama i-50% ngelixa i-Bitcoin iphakama i-100%, inzuzo ehlawulwa irhafu ilandela isabelo. Flip imo kwaye umva uyasebenza: iprimiyamu eyandiswe ngokukhawuleza kunokuba ingqekembe ikunika inzuzo enkulu erhafiswayo kuneBitcoin ngokwayo. Yongeza irhafu yokudluliselwa kwezibambiso kuyo yonke into ethengiweyo yezabelo, ngoko khumbula ukuba inkampani ithwala indawo yayo yerhafu kwiBitcoin ngaphakathi kwe-wrapper kwaye iindlela ezimbini ziyeka ukuthelekiswa kumgca omnye.
Ephepheni ukungabikho kwemali kukhangeleka kufana kodwa xa kusenziwa ezi ndlela zimbini ziziphatha ngendlela eyahlukileyo.
Imarike yerandi yeBitcoin inzulu kwaye irhweba ubusuku nemini. I-ABC ithengisa kwiiyure ze-JSE kwimiqulu ye-JSE, kunye ne-bid-offer yokusabalalisa ukuhambelana. Kwisikhundla esithobekileyo esingenamqobo. Ngobungakanani, ingqekembe ngqo ngokusebenzisa i-over-the-counter (OTC) idesika iphumeza ngokucocekileyo kunokusebenza incwadi ecekethekileyo yokuodola, nto leyo eyinxalenye yesizathu sokuba ndiqhube enye nakweyiphi na isayizi. Ukulandelela ukukhukuliseka kwakhona: kwiminyaka edlulileyo isabelo kufuneka silandele ingqekembe kuba ingqekembe yibalance sheet, ngelixa kwiinyanga ixabiso lesabelo liphendula kwiimvakalelo, kwiindleko kunye nakwinkunzi iphakamisa kangangoko kwiBitcoin ngokwayo.
Ke kukho isizathu sokuba i-ABC ibekho kwaphela: izigunyaziso. Iphepha le pension fund okanye i unit trust framework evumela i-equities ezidwelisiweyo inokuthenga iABC ngomso. Uxwebhu olufanayo lunokuthintela ngokuthe ngqo ii-asethi ze-crypto. Kwelo komkhulu inkampani kanondyebo ayikho enye inketho phakathi kwezininzi. Lucango oluvulekileyo kuphela olukhoyo.
Ithini incwadi yemithetho yeJSE malunga neBitcoin edwelisiweyo
Imvelaphi yolawulo ichaza ukuba kutheni indlela ye-equity ifike kuqala. NgoJuni 2021 i-Intergovernmental Fintech Working Group yapapasha iphepha lesikhundla elicebisa ukuba izibambiso ezibhekiselele kwii-asethi ze-crypto akufanele zidweliswe kude kube nesaziso. Leyo yayiyiNgcebiso 23 kwaye yalugcina luvaliwe ucango lwengxowa-mali iminyaka.
Ukunyibilika kweza ngokwamanqanaba. Ngo-Oktobha 2022 i-Financial Sector Conduct Authority (FSCA) ibhengeze i-crypto assets njengemveliso yemali phantsi koMthetho we-Financial Advisory and Intermediary Services Act (FAIS) Act, ukutsala iingcebiso kunye neenkonzo zomlamli kulawulo lwelayisenisi. Ke nge-4 kaSeptemba 2025 i-JSE yapapasha izilungiso ezicetywayo kwiTyala layo kunye neeNgcaciso zoLuhlu loKhuseleko lweeMfuno zokwamkela ii-ETN kunye nee-ETF ezibhekiselele kwii-asethi ezivunyiweyo ze-crypto, kunye noluvo loluntu luvulwe kude kube nge-6 ka-Okthobha ka-2025.
Imithetho ecetywayo ingqongqo kwiindawo ezifanelekileyo. Ubuncinci i-90% ye-crypto asethi exhasa imveliso edwelisiweyo kufuneka ihlale kwindawo yokugcina ebandayo okanye ilungiselelo eliphicothiweyo elilinganayo. Amaxabiso kufuneka avele kwisalathiso se-asethi ye-crypto eyakhelwe kwiiplatifti ezininzi ezivavanyiweyo kunotshintshiselwano olunye. Ukudalwa kunye nokukhululwa kwenzeka ngemali kuphela kwaye wonke umniki kufuneka atyumbe umenzi wemarike. Ndikhuphe iinkcukacha Imithetho ecetywayo ye-JSE yokhuseleko lweBitcoin.
Qaphela ukuba i-ABC ayiyiyo, nangona kunjalo. Asiyo-ETN okanye i-ETF. Luluhlu oluqhelekileyo lwezabelo zamashishini ezingenanzala emisiweyo, inkampani eyenzeka ukuba ibambe ingqekembe yemali, eyona ndlela i-Bitcoin eyahamba ngayo kwi-JSE ngelixa ucango lwengxowa-mali lusavaliwe. Nje ukuba loo mnyango uvulwe ngokufanelekileyo, iimveliso zokulandelela ngexabiso eliphantsi ziyakukhuphisana kwinkunzi egunyazisiweyo efanayo kwaye iprimiyamu yenkampani kanondyebo kuya kufuneka izuzwe ngokukhula kokwenyani kwengqekembe-ngesabelo ngesabelo kunokunqongophala kofikelelo. Nabani na obhatala iprimiyamu ye-ABC namhlanje kufuneka ayinike ixabiso.
Yeyiphi indlela ehambelana nomtyali-mali
Isikali silungisa uninzi lwayo. Umtyali-zimali wabucala one-R5 yezigidi zeerandi ukuze abele unakho ukwenza nayiphi na indlela isebenze; Umahluko yi-premium ehlawulweyo ingena, iindleko zokuqhuba kunye nokulandela umkhondo endleleni. I-ofisi yosapho ene-R100 lezigidi ixhomekeke kwingqekembe ethe ngqo, apho ugcino lunokwandiswa kuwo onke amalungiselelo ewalawulayo nalapho iindleko zokuqhuba isithuthi ziyeka ukuyitya ithisisi ngokomlinganiselo. Ingxowa-mali yomhlalaphantsi enezigidi ezingama-R500 phantsi kogunyaziso lwezabelo zamashishini ezingenanzala emisiweyo inokufumana i-ABC kuphela kwembonakalo yeBitcoin evumelekileyo ukuba iyibambe.
Eyam indawo ayizukumangalisa nabani na ofunde ukuza kuthi ga ngoku. Kumntu ogcina isithuba seminyaka emihlanu ukuya kwelishumi, ekuphela kwento endiyamkelayo kwiBitcoin, ndifuna ukuba umxhasi abe ne-asethi ngokwayo: iingqekembe kwindawo yokugcina ebandayo enezitshixo phantsi kolawulo lwazo. Lowo ngumsebenzi endiwenza e-SimplB, ukuzigcina ngokukhokelwa ukusuka kwi-R10,000 kunye ne-2-of-3 multisig Vault ngokubamba okunzulu, apho umxhasi ubamba izitshixo ezimbini zehardware kwaye ndibambe kuphela isitshixo sokubuyisela. Akukho premium, akukho nkampani kwaye akukho mkhondo wokulandela phakathi kwakho kunye ne-asethi. Kwaye ukuba ungumlawuli ubuza malunga ne-balance sheet yenkampani yakho endaweni ye-ABC, i-accounting kunye neempendulo ze-SARS zikhona ngoku, ezichazwe I-Bitcoin njenge-asethi yequmrhu lezemali eMzantsi Afrika.
Nokuba uthatha ntoni na isigqibo, yenza isishwankathelo esinye sokuba inqaku lingakubonisi. Thatha inkunzi yemalike yenkampani kwaye uyahlule ngexabiso leBitcoin eyibambe. Impendulo ekufutshane no-1 ithetha ukuba uhlawula ixabiso elifanelekileyo lengqekembe kunye neqela lolawulo. Impendulo engaphezulu koku-1 ithetha ukuba uhlawula loo phinda-phinde ngerandi nganye yeBitcoin ngaphakathi kwaye ufuna imbono eqinileyo yokuba kutheni ipremiyamu isinda nje kuluhlu olusongayo olusezantsi. Ingqekembe ngokwayo ihlala irhweba ngokuthe ngqo ku-1.
Imibuzo ebuzwa qho
Yintoni i-Africa Bitcoin Corporation kwaye kutheni iphawuleka?
I-Africa Bitcoin Corporation, eyayifudula iyi-Altvest, yinkampani yokuqala edweliswe ku-JSE ukubamba i-Bitcoin njenge-asethi yayo engundoqo ye-treasury. Inika abatyali-mali baseMzantsi Afrika ukuvezwa kwe-Bitcoin ngesabelo esiqhelekileyo esidwelisiweyo, esihambelana neengxowa-mali zomhlalaphantsi kunye nezinye izigunyaziso ezingakwaziyo ukubamba ii-asethi ze-crypto ngokuthe ngqo.
Isebenza njani inkampani yeBitcoin edweliswe nguJSE?
Inkampani inyusa inkunzi ngokukhutshwa kwesabelo, ithenga iBitcoin kwaye iyibambe nomgcini. Ixabiso lesabelo emva koko libonisa ixabiso laloo Bitcoin udibanise okanye uthabathe iprimiyamu okanye isaphulelo kwixabiso le-asethi. Uthenga izabelo nge-stockbroker eqhelekileyo kwaye inkampani iphethe ukugcinwa kunye nokunika ingxelo.
Iyintoni ingozi yeprimiyamu ye-NAV kwaye kutheni ibalulekile?
Ixabiso le-asethi eliseleyo yiBitcoin inkampani ephetheyo yahlulwe ngenani lezabelo. Xa imfuno iphezulu ixabiso lesabelo lingarhweba ngaphezu kwelo xabiso, ngoko ke uhlawula ngaphezulu kweyunithi nganye yeBitcoin kunokuthenga ingqekembe ngokuthe ngqo. Ukuba imvakalelo iyajika, iprimiyamu inokuwa kwaye ulahlekelwe yimali ngelixa iBitcoin imile.
Ngaba i-ABC iyafana ne-Bitcoin ETF?
Hayi. I-ABC yi-equity eqhelekileyo kwinkampani yokubamba, ngoko ke ixabiso layo lingakhukuliseka ixesha elide ukusuka kwixabiso leBitcoin. I-ETF yakhelwe ukulandelela ixabiso le-asethi eseleyo ngokusondeleyo. I-JSE ipapashe kuphela imithetho ecetywayo yoluhlu lwe-crypto ETNs kunye ne-ETF ngomhla we-4 Septemba 2025, yingakho umzila wenkampani ye-treasury wafika kuqala.
Yahluke njani irhafu phakathi kwezabelo ze-ABC kunye neBitcoin ethe ngqo?
Ukuthenga izabelo ze-JSE kutsala irhafu yokudluliselwa kwezibambiso kwaye ukuzithengisa kubangela irhafu yenzuzo enkulu kwinzuzo yesabelo, ngelixa inkampani iphethe indawo yayo yerhafu ngaphakathi. Nge-Bitcoin ethe ngqo, i-SARS irhafisa okwakho ukulahla ingqekembe. Inzuzo yesabelo kunye nenzuzo yengqekembe ayifane ibe nenani elifanayo, ngoko ke iziphumo ziyahlukana.
Ngumnikazi wengqekembe emva kweticker
I-SimplB inceda abantu baseMzantsi Afrika bathenge, bakhusele kwaye bamise i-Bitcoin ngokuthobelayo, njengoMmeli woBugqwetha we-CAEP Asset Managers (FSP 33933).
Bhukha umnxeba wokufunyanwa