On June 29, the shareholders of the ailing Spanish café chain, Vanadi Coffee, voted overwhelmingly in favor of a plan to invest up to €1 billion (approximately $1.17 billion USD) in Bitcoin. This move is aimed at strengthening the company’s position as Spain’s leading business with sizable Bitcoin reserves.
Vanadi Coffee, a small public company that runs six café outlets in Alicante, Spain, has already purchased 54 BTC (around $5.8 million at present rates) in line with this plan, as stated in a recent report. The café chain’s shares listed on BME Growth have tripled in June, following the announcement of this plan.
In 2024, the company faced financial difficulties, reporting losses of €3.3 million which were 15.8% higher than the previous year. Following the footsteps of companies like MicroStrategy and Metaplanet, Vanadi Coffee is transforming its business model. The company will now primarily use Bitcoin as its reserve asset and will accumulate large Bitcoin reserves as part of its treasury, according to the company’s announcement.
In May, Vanadi announced two investment propositions of up to €50 million. One proposal came from a solo software consulting business based in Alicante, and the other from a family office, Alpha Blue Ocean, which has invested over €1.5 billion across 15 countries, as per the firm’s website.
Vanadi Coffee has chosen Bit2Me as its exclusive liquidity and custody provider. While the company’s move aligns with the recent global trend of Bitcoin treasury investments, Vanadi’s small size and lack of experience in the crypto industry could potentially challenge its ambitious plans.
Disclaimer: This article is for informational purposes only and should not be used as legal, tax, investment, financial, or other advice.
