Spanish coffee chain to follow Strategy in $1 billion Bitcoin bet

Source: beincrypto

Compile:Blockchainknight

Spanish coffee chain Vanadi plans to invest more than $1.1 billion in BTC as a core move in its new reserve strategy. This is a new trend that is increasingly emerging in corporate boardrooms around the world.

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

MicroStrategy is the first company to build a large-scale BTC reserve, which has become a major trend in recent months. From Chinese logistics companies to French football teams, all kinds of different types of companies are buying BTC, and now there is a new company joining the ranks.

Local media recently reported that Spanish company Vanadi Coffee SA will invest $1.1 billion in BTC.

Some large companies use BTC reserves to enhance their diversified portfolios, but this is not Vanadi's goal. Chairman of the Board Salvador Martí plans to fully shift the company from the coffee business to the BTC business, similar to MicroStrategy's approach. At the next board meeting on June 29, Marti made it clear that he wanted to transform Vanadi into a "BTC-first" company.

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

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

He had made his first purchase two weeks ago, buying 5 BTC for about $500,000. The massive investment commitment sent Vanadi’s stock price soaring, but most of the gains were later lost on the day.

This wild swing in share price highlights the possible risks of Vanadi’s transition to BTC. BTC may be less volatile than usual right now, but its price can still experience extreme swings.

Tying a company’s fate to BTC would also expose it to a whole new range of risks.

Still, BTC may be a silver lining for Vanadi, which lost $3.7 million in 2024, almost $600,000 more than its annual revenue.

Earlier this year, GameStop was in a similar predicament, but its BTC investment has paid off well. Since investing in March, GameStop has continued to increase its holdings and become a major holder of BTC. Perhaps BTC will have the same effect for Vanadi.

The article comes from the Internet:Spanish coffee chain to follow Strategy in $1 billion Bitcoin bet