Spanish coffee chain to follow Strategy with $1 billion Bitcoin bet
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Spanish coffee chain to follow Strategy with $1 billion Bitcoin bet
Vanadi plans to fund these BTC acquisitions by issuing a large number of new Vanadi shares.
Navigating Web3 tides with focused insightsSource: beincrypto
Translation: Blockchain Knight
The Spanish coffee chain Vanadi plans to invest over $1.1 billion in purchasing BTC as a core move in its new reserve strategy—an emerging trend gaining momentum among corporate boards worldwide.
The company does not intend to use BTC merely to supplement revenue, but instead aims to fully transform into a BTC-centric business. After posting losses in 2024, Chairman Salvador Martí is placing his bet on Web3.
MicroStrategy was the first company to build a large-scale BTC treasury, and this approach has become a significant trend in recent months. From Chinese logistics firms to French football clubs, diverse companies are acquiring BTC—and now another player has joined the movement.
Local media recently reported that Spain-based Vanadi Coffee SA will invest $1.1 billion in BTC.
While some large corporations adopt BTC holdings to diversify investment portfolios, that is not Vanadi’s goal. Board Chairman Salvador Martí plans to shift the entire company away from its coffee operations toward a BTC-focused model—similar to MicroStrategy’s path. At the next board meeting on June 29, Martí clearly stated his intention to turn Vanadi into a “BTC-first” enterprise.
According to reports, Martí said: "I request the board authorize me to implement a BTC accumulation strategy with an investment cap of 1 billion euros (approximately $1.1 billion), and grant full authority to negotiate one or more convertible financing channels to fund the execution of this strategy."
Martí's plan closely mirrors MicroStrategy at multiple levels: like Michael Saylor, Martí intends to fund these BTC acquisitions by issuing substantial new shares of Vanadi stock.
He made his first purchase two weeks ago, acquiring 5 BTC for about $500,000. This massive investment commitment briefly sent Vanadi's stock soaring, though most of the gains reversed later the same day.
This sharp stock volatility highlights the potential risks of Vanadi’s pivot to BTC. While BTC may be less volatile than before, its price can still experience extreme swings.
Tying the company's fate directly to BTC also exposes it to a whole new set of risks.
Nevertheless, BTC might still represent Vanadi’s best hope. The company lost $3.7 million in 2024—nearly $600,000 more than its annual revenue.
Earlier this year, GameStop faced a similar situation, yet its BTC investments have yielded strong returns. Since investing in March, GameStop has continued accumulating BTC and has become one of its major holders. Perhaps BTC can deliver the same turnaround for Vanadi.
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