Étienne Girard
In a bold strategic pivot, Vanadi Coffee, a publicly-traded café chain based in Alicante, Spain, has received shareholder approval to allocate up to €1 billion (approximately $1.17 billion USD) into Bitcoin, positioning itself as Spain’s leading corporate holder of the cryptocurrency.
The vote took place on June 29, and the company has already begun execution, having acquired 54 BTC (valued around $5.8 million) according to recent filings. Following the announcement, Vanadi’s stock price on BME Growth more than tripled in June, despite the company having posted a €3.3 million loss in 2024, a 15.8% increase in year-over-year losses.
From Coffee to Crypto: A Radical Business Model Shift
Vanadi stated that it will adopt BTC as its primary reserve asset, mirroring strategies seen at firms like MicroStrategy and Metaplanet. “The company aims to redefine itself through strategic accumulation of Bitcoin,” Vanadi noted in a translated statement.
Earlier this year, Vanadi announced two investment offers totaling €50 million—one from a local tech consultancy and another from Alpha Blue Ocean, a family office with over €1.5 billion deployed across 15 countries. To handle its crypto operations, Vanadi partnered with Bit2Me, which will serve as the exclusive provider for both custody and liquidity.
Spain Joins the Global Corporate Bitcoin Movement
Vanadi’s ambitious move adds to a growing list of non-crypto companies adopting BTC as a treasury asset. Recently, Bakkt—a digital asset custody provider—also revealed plans to invest up to $1 billion in BTC.
Despite the enthusiasm, some analysts question whether Vanadi’s small size and limited crypto background could present challenges to executing such a large-scale treasury strategy. However, the café chain seems determined to become a crypto-native enterprise in an evolving financial landscape.
