Vanadi, a coffee chain based in Spain, will invest more than $1.1 billion in Bitcoin.
The company wants to become a Bitcoin-first business. It does not plan to use the investment to boost its income.
Instead, Vanadi aims to fully shift its focus from coffee sales to cryptocurrency holdings.
Leadership Push
Chairman Salvador Martí made the move after the company lost money in 2024.
He told the board, “I ask the board of directors to authorise the implementation of a Bitcoin reserve strategy of up to 1 billion euros (about $1.1 billion) and grant me full authority to negotiate one or more convertible financing plans to support the implementation of this strategy.”
Martí believes the firm can profit more by holding Bitcoin than by selling coffee alone.
Early Purchase
Martí has already taken the first step. Two weeks ago, he used about $500,000 to buy five Bitcoins. That initial purchase signalled his commitment to the new strategy.
The firm’s stock jumped after news of the move came out. Most of the gains, however, later disappeared as some investors grew cautious.
Vanadi’s sudden shift has led to a mixed reaction. Some shareholders are excited about the possibility of big returns. Others worry about the volatility of Bitcoin.
At the moment, Bitcoin feels less wild than in the past, but it can still swing in unexpected ways. The stock’s rocky performance highlights the risks of putting so much money into a single digital asset.
Industry Context
MicroStrategy was the first company to build a large Bitcoin reserve, and its example sparked a wider trend. Lately, many different firms have followed suit. Chinese logistics companies and French soccer teams are now buying Bitcoin.
Even a Swedish firm called H100 Group AB recently made a deal with Blockstream CEO Adam Back. H100 secured a SEK 21 million convertible loan backed by Back’s involvement to hold a Bitcoin reserve. These moves show that corporate boards around the world are warming up to Web3 and digital assets.
On May 28th, GameStop Corp. (NYSE: GME) announced the purchase of 4,710 Bitcoin (BTC), marking a significant step in its strategic shift toward digital assets.
Risks and Comparisons
Unlike many firms that use Bitcoin to diversify their portfolios, Vanadi wants to make it the core of its business. Martí’s plan is similar to what MicroStrategy did, but the scale is smaller.
Still, shifting from coffee to Bitcoin carries big risks. Coffee sales can be steady. Bitcoin can be unpredictable. If Bitcoin’s price falls deeply, Vanadi’s new strategy could cause heavy losses.
Next Steps
Vanadi’s next board meeting is set for June 29. At that gathering, Martí and other leaders will discuss the details of the Bitcoin plan and seek final approval.
If the board gives the green light, Vanadi will begin negotiating financing options. Those talks will aim to make sure the company has enough cash to buy and hold Bitcoin for the long term.
Also Read: Metaplanet Raises $21M via Zero-Interest Bonds to Advance Bitcoin Strategy