💦💦Famous Coffee Chain Launches Bitcoin Plan: Purchased, Price Soars! 💦💦

Spain-based coffee chain Vanadi Coffee has implemented a plan to invest a total of 1 billion euros in Bitcoin (BTC) with the approval of its shareholders.

The publicly traded coffee company Vanadi Coffee, operating with six branches in Alicante, made a significant decision to strengthen its financial structure. At the shareholder meeting on June 29, it was agreed to invest approximately 1.17 billion dollars (1 billion euros) in Bitcoin. Having already purchased 54 BTC (approximately 5.8 million dollars) in June, the company has thus become Spain's first publicly traded firm with a Bitcoin reserve.

Vanadi Coffee, which faced serious financial difficulties last year, announced a loss of 3.3 million euros in the first half of 2024. However, the company's shares tripled in value in June when the Bitcoin strategy was announced.

This move by Vanadi Coffee is seen as part of a strategy to use Bitcoin as a reserve asset, following in the footsteps of large companies like MicroStrategy and Metaplanet. The company aims to enhance its financial power through digital assets.

It was stated in the announcement that Vanadi Coffee has collaborated with Bit2Me, Spain's leading crypto platform, to manage and ensure the security of its crypto investments. Furthermore, the Alpha Blue Ocean family office, which has previously invested a total of 1.5 billion euros in 15 countries, is also expected to support Vanadi Coffee.

On the other hand, Vanadi Coffee's small scale in the industry and limited experience in cryptocurrencies raise questions about how successful this ambitious Bitcoin move will be in the future.

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