Spanish Coffee Chain Vanadi Plans to Allocate €1 Billion to Establish Bitcoin Reserve

BlockBeats News, June 4th, according to beincrypto, the Spanish coffee chain brand Vanadi is planning to invest over $1.1 billion to purchase Bitcoin as part of its new reserve strategy. This is one of the growing trends among global corporate executives.

The company does not intend to use Bitcoin to supplement its income but rather aims to transition fully into a Bitcoin-centric business. After experiencing losses in 2024, Chairman Salvador Martí is betting on the Web3 space.

Martí stated: "I request the authorization from the board to implement a Bitcoin reserve strategy of up to €1 billion (approximately $1.1 billion) and grant me full authority to negotiate one or more convertible financing schemes to support the execution of this strategy."

Martí's plan mirrors MicroStrategy in several ways. Like Michael Saylor, Martí plans to fund the purchase of Bitcoin by issuing a large amount of Vanadi stock. He has already made his initial purchase: about two weeks ago, he bought 5 Bitcoins for around $500,000.