The publicly listed Alicante-based chain of Spanish cafés, Vanadi Coffee, has made the unprecedented foray into cryptocurrency trading. The company’s shareholders have approved the company to invest up to a sum of €1 billion, which is roughly $1.17 billion, in Bitcoin.
The decision is the centre of the radical shift in the company’s strategy after having fared badly in the past twelve months. The firm now operates six branches in Spain and has been on the spot since announcing losses of €3.3 million in 2024.
The sum recorded 15.8 percent growth in losses compared to the last financial year, raising eyebrows of investors and managers in the company regarding sustainability.
The leadership of Vanadi countered the situation with the digital asset model to reshape its model of the treasury.
Vanadi has already acquired 54 Bitcoins, currently valued at around $5.8 million. It bought 20 of them in June. It therefore became the first company listed in Spain to hold Bitcoin as a treasury asset.
Investors have driven the company’s share price on BME Growth up significantly over the past month. They have tripled its value since the initial plan was announced earlier in June.
Vanadi aligns with global Bitcoin treasury players
Following the footsteps of MicroStrategy, an international company, and Metaplanet of Japan, Vanadi is going to hoard Bitcoin for long-term use as a treasury reserve.
The company is seeking to reposition its financial outlook through asset strengthening and greater market exposure through the foregoing method.
In May, Vanadi also received investment offers up to €50 million. One came from a local software consultancy and another from Alpha Blue Ocean, a family office with €1.5 billion investments in over 15 countries.
Vanadi has also partnered with Spanish firm Bit2Me to manage its Bitcoin custody and liquidity services.
Despite these efforts, Vanadi’s small size and lack of crypto experience may present serious challenges as it pursues this ambitious treasury plan.
