Spanish coffee chain Vanadi plans to invest over $1.1 billion to buy Bitcoin, following MicroStrategy

The Spanish coffee chain Vanadi Coffee SA plans to invest over $1.1 billion to purchase Bitcoin as part of its new reserve strategy. Local media reports that the company's chairman, Salvador Martí, will propose approval for a Bitcoin accumulation plan of up to €1 billion (approximately $1.1 billion) at the board meeting on June 29, and seek financing authority to support this strategy.

Unlike many businesses that view Bitcoin as a diversified asset allocation, Vanadi intends to fully transform into a 'Bitcoin-first' company, similar to the approach taken by MicroStrategy founder Michael Saylor.

Two weeks ago, Vanadi made its first purchase of approximately $500,000 worth of 5 Bitcoins, causing the company's stock price to surge at one point, but most of the gains subsequently receded.

In 2024, Vanadi reported a loss of $3.7 million, nearly exceeding its annual revenue by $600,000. Chairman Martí hopes that Bitcoin will become a turning point for the company, similar to the returns GameStop has achieved after increasing its Bitcoin investments this year.

However, tying the company's fate to Bitcoin also carries significant risks, as Bitcoin prices are highly volatile.