Spanish coffee chain Vanadi to invest over $1.1 billion in Bitcoin, following MicroStrategy’s lead

Spanish coffee chain Vanadi Coffee SA plans to invest over $1.1 billion in Bitcoin as part of its new reserve strategy. Chairman Salvador Martí is set to propose at the June 29 board meeting the authorization of a Bitcoin accumulation strategy capped at 1 billion euros (around $1.1 billion USD), along with the authority to negotiate convertible financing to fund this plan.

Unlike many firms that use Bitcoin as a portfolio diversification tool, Vanadi aims to fully pivot to become a “Bitcoin-first” company, similar to Michael Saylor’s MicroStrategy.

Two weeks ago, Vanadi made its first purchase of 5 BTC worth roughly $500,000, which caused its stock to surge before most of the gains faded.

In 2024, Vanadi lost $3.7 million, nearly $600,000 more than its annual revenue. Martí hopes Bitcoin could be the company’s turnaround, inspired by GameStop, which doubled down on Bitcoin investment earlier this year with promising results.

However, tying a company’s fate to Bitcoin carries significant risk given the asset’s volatility.