Vanadi Coffee, a cafe chain with six outlets in Spain, has announced that stakeholders have approved a €1 billion ($1.17 billion) Bitcoin investment plan, in a move to “redefine” its business model.
The company reported a loss of €3.3 million ($3.86 million) in 2024, a 15.8% increase from the previous year. As a result, the beleaguered Vanadi has pivoted to a shift in its strategy, adopting Bitcoin as its primary reserve asset.
“Vanadi Coffee has adopted a number of financial instruments to support its Bitcoin strategy since last April and will use Bitcoin as a strategic store of value in its new business model,” the coffee chain said in an official announcement.
Vanadi Coffee’s Billion-Euro BTC Play
The coffee chain has taken its cue from major international players that are betting big on a similar BTC strategy, including Saylor’s Strategy and Japanese Metaplanet.
The company said that it is aiming to accumulate “large amounts of Bitcoin” as part of its treasury. Further, it said that Bitcoin investment is a long-term commitment.
“Vanadi Coffee is diversifying its business into Bitcoin investment and management and other cryptocurrency-related areas,” the coffee chain noted.
Further, the firm aims to create a strategic window for investors, given the scarcity of BTC treasury companies listed in Spain and EU markets.
Vanadi Coffee Acquires Additional 20 BTC, Currently Holds 54 BTC
The coffee group has added 20 BTC to its Bitcoin stash on Sunday, the company said in a separate announcement. The new purchase adds up to its already existing treasury, totalling 54 BTC, worth $5.8 million at press time.
Vanadi has partnered with Spanish firm Bit2Me as its exclusive liquidity and custody provider.
Interestingly, per Google Finance data, Vanadi’s shares on BME Growth tripled this month, after it announced its BTC acquisition plans.
Recently, a flurry of companies have announced their Bitcoin treasury play, including crypto exchange Bakt, which recently filed for a $1 billion S-3 registration to fund Bitcoin acquisitions.
The post Spanish Cafe Chain Vanadi Coffee Board Approves $1.17B Bitcoin Investment Plan, Adds 20 BTC appeared first on Cryptonews.
Credit: Source link
