Spanish Coffee Chain Vanadi Coffee Bets BigUSD on Bitcoin with $1.1 Billion Investment Plan

Vanadi Coffee, a Spanish coffee chain listed on the BME Growth market, has announced an ambitious plan to invest over $1.1 billion in Bitcoin, aiming to transform itself into a “Bitcoin-first” company.

“I ask the board for authorization to implement the Bitcoin accumulation strategy with a maximum of 1 billion euros ($1.1 billion) and carte blanche to negotiate one or more lines of convertible financing to finance the implementation of the strategy,” Chairman Salvador Martí reportedly claimed.

The strategy, led by Martí, will be financed through new stock issuances and convertible bonds, with a board meeting scheduled for June 29 to seek approval.

Financial Struggles and Market Reaction

Vanadi Coffee’s financial journey has been turbulent since its debut on the BME Growth market in July 2023. Initially valued at €3.28 per share, the stock has plummeted approximately 99%, currently trading at around €0.28 as of June 4, 2025, following a 10-to-1 reverse stock split in March.

The company reported losses of €3.7 million in 2024, a 15.6% increase from 2023, with revenues stagnating at just over €2 million. The company operates six locations (five cafes and one bakery) and has scaled back its expansion plans, now projecting nine locations by the end of 2025, down from 27 forecasted in 2024, with profitability not expected until 2027.

Despite these challenges, Vanadi’s stock surged 54.5% after announcing its Bitcoin strategy, peaking at €0.55 on May 22.

The decision to invest heavily in Bitcoin stems from a strategic shift in treasury management, driven by Martí, who also chairs other firms like Intercity and Facephi. Vanadi has received two investment proposals totaling €100 million from Patblasc Software Consulting and WGTO Securitisation Fund, both contingent on Martí’s personal and financial guarantees. These funds, primarily aimed at Bitcoin accumulation, are intended to diversify the company’s portfolio, hedge against inflation, and restore investor confidence amid liquidity issues and a lack of trust from previous backers.

Martí cites the success of companies like MicroStrategy and Semler Scientific, which have leveraged Bitcoin to bolster their financial positions, as a model for Vanadi’s transformation. The company has already purchased 5 BTC for approximately $500,000, signaling the start of this pivot.

Bitcoin as a Strategic Pivot

Vanadi’s move is part of a broader trend in 2025, where companies, including those in the food industry, are increasingly adopting cryptocurrency as a reserve asset. For instance, Starbucks has been integrating blockchain technology since 2021, allowing customers to pay with Bitcoin via partnerships with Bakkt and PayPal, enhancing its loyalty program with tokenized rewards. While not as aggressive as Vanadi’s Bitcoin-first approach, Starbucks’ strategy highlights the growing acceptance of digital assets in the food sector.

Can the Coffee Master’s High-Risk Gamble Succeed?

Vanadi Coffee’s $1.1 billion Bitcoin investment plan represents a high-risk gamble to reposition a struggling coffee chain as a Bitcoin-first company, mirroring MicroStrategy’s strategy. Despite its financial woes and scaled-back expansion, the company sees Bitcoin as a path to recovery and investor confidence.

This move aligns with a 2025 trend where select food and beverage companies, like Starbucks, are cautiously integrating cryptocurrencies, while others across industries embrace Bitcoin to combat inflation and diversify portfolios. However, the volatility of Vanadi’s stock and the speculative nature of such a pivot raise questions about its long-term viability, especially for a small-cap firm with limited operational scale.