Vanadi Coffee, a prominent Spanish cafe chain, is making headlines by investing over $1.1 billion in Bitcoin following substantial financial losses in 2024. Chairman Salvador Martí seeks board approval for this major BTC acquisition, mirroring the strategies of companies like MicroStrategy. The company’s decision comes after experiencing a challenging year with reported losses exceeding its annual revenue by nearly $600,000.
Martí proposes to shift Vanadi’s financial reserves entirely towards Bitcoin and has requested board authorization to acquire up to €1 billion in BTC (equivalent to $1.1 billion USD) along with convertible financing deals to support the initiative. He aims to implement this strategy at the June 29th board meeting.
The move closely follows the successful transformation of MicroStrategy, a U.S.-based software firm led by Michael Saylor, which shifted its financial approach to prioritize Bitcoin investments. Vanadi has already begun acquiring BTC, with Martí’s initial purchase of 5 BTC valued at about $500,000 two weeks ago. This bold move sparked temporary stock price fluctuations.
Martí believes this transformation is essential for the company’s survival and success. He envisions Bitcoin not just as a hedge but as one of Vanadi’s core pillars. However, such a significant shift in strategy poses substantial risks. The volatile nature of Bitcoin prices could significantly impact Vanadi’s valuation and operational stability.
Despite the potential risks, Martí remains optimistic, citing GameStop’s recent success in utilizing Bitcoin to stabilize its operations. He hopes Vanadi can achieve similar results and believes that digital assets will be key to the company’s long-term recovery. While critics question this massive pivot for a traditional coffee chain, Vanadi is betting on Bitcoin as the solution for sustained growth.