The Spanish coffee chain will follow Strategy with a $1 billion Bitcoin bet.

Source: beincrypto

Compiled by: Blockchain Knight

“Spanish coffee chain brand Vanadi plans to invest over $1.1 billion to purchase BTC as a core initiative of its new reserve strategy. This is an emerging trend among global corporate boards.”

The company does not intend to use BTC to supplement its income but plans to fully transform into a BTC-centric enterprise. After incurring losses in 2024, Chairman Salvador Martí is betting on the Web3 field.

MicroStrategy is the first company to establish a large-scale BTC reserve, and this practice has become an important trend in recent months. From logistics companies in China to football teams in France, various types of businesses are purchasing BTC, and now another new company has joined this ranks.

Local media recently reported that the Spanish company Vanadi Coffee SA will invest 1.1 billion dollars to purchase BTC.

Some large enterprises adopt BTC reserves to enhance diversified portfolios, but this is not the goal of Vanadi. Chairman Salvador Martí plans to fully transition the company from the coffee business to the BTC business, similar to the approach of MicroStrategy. In the next board meeting held on June 29, Martí explicitly stated the intention to transform Vanadi into a “BTC-first” company.

“I request the board of directors to authorize me to implement a BTC accumulation strategy with an investment cap of €1 billion (about $1.1 billion) and grant discretionary authority to negotiate one or more convertible financing channels to fund the implementation of this strategy,” Martí reportedly said.

Martí’s plan mimics MicroStrategy on multiple levels: just like Michael Saylor, Martí plans to fund these BTC acquisitions by issuing a large number of Vanadi new shares.

He made his first purchase two weeks ago, buying 5 BTC for about $500,000. This large-scale investment commitment caused Vanadi’s stock price to soar at one point, but most of the gains subsequently retreated that day.

The dramatic fluctuations in stock prices highlight the potential risks of Vanadi’s transition to BTC. Currently, BTC’s volatility may be lower than usual, but its price can still experience extreme fluctuations.

Bundling the company’s fate with BTC will also expose the company to a variety of new risks.

Nevertheless, BTC may still be the hope for Vanadi. The company lost 3.7 million dollars in 2024, which is almost 600,000 dollars more than its annual revenue.

Earlier this year, GameStop also found itself in a similar predicament, but its BTC investments have yielded good returns. Since investing in March, GameStop has continued to increase its holdings and has become a major holder of BTC. Perhaps BTC will bring the same effect to Vanadi.