Vanadi, a Spanish coffee chain, is planning to invest more than $1.1 billion in Bitcoin as part of its new reserve strategy. This is part of a growing trend in corporate boardrooms worldwide.
The firm isn’t planning to use BTC to supplement its income but rather to fully become a Bitcoin-first entity. After losing money in 2024, Chairman Salvador Martí is taking a gamble on Web3.
Vanadi Coffee to Buy Bitcoin
MicroStrategy was the first company to build a major Bitcoin stockpile, but it’s become a major trend in recent months. Diverse businesses from Chinese logistics firms to French soccer teams are buying BTC, and a new contender is joining.
Local media recently reported that Vanadi Coffee SA, a Spanish firm, is going to invest $1.1 billion in Bitcoin.
Some major firms have employed Bitcoin reserves to augment a diversified portfolio, but that isn’t Vanadi’s aim. Board Chairman Salvador Martí is planning to fully reorient its posture from coffee to Bitcoin, similar to MicroStrategy. The firm’s next board meeting is on June 29, and Martí clearly described turning Vanadi into a BTC-first company.
“I ask the board for authorization to implement the Bitcoin accumulation strategy with a maximum of 1 billion euros ($1.1 billion USD) and carte blanche to negotiate one or more lines of convertible financing to finance the implementation of the strategy,” Martí reportedly claimed.
Martí’s plan follows MicroStrategy in several clear ways. Much like Michael Saylor, Martí plans to make a huge new offering of Vanadi stock to fund these Bitcoin acquisitions.
He already made the first purchase, buying 5 BTC for roughly $500,000 two weeks ago. This larger commitment caused Vanadi’s stock to jump up, but most of today’s gains later evaporated:
This chaotic stock performance highlights the possible dangers of Vanadi’s pivot to Bitcoin. BTC may be less volatile than usual at the moment, but it can be extremely unpredictable regardless.
Tying a company’s fate to Bitcoin also exposes it to a wide range of new dangers.
Still, Bitcoin might be Vanadi’s best hope. The firm lost $3.7 million in 2024, which is almost $600,000 more than its annual revenue.
Gamestop found itself in a similar situation earlier this year, but its own Bitcoin investment has been paying off well. Since investing in March, Gamestop doubled down to become a major holder. Perhaps Bitcoin will do the same.
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