Spanish coffee chain Vanadi plans to invest more than $1.1 billion in bitcoin to transform into a "bitcoin-first" company

PANews
PANews
BTC-1.72%

PANews reported on June 4 that according to BeInCrypto, the Spanish coffee chain Vanadi Coffee SA plans to invest more than $1.1 billion in the purchase of Bitcoin, following MicroStrategy's example and shifting the company's strategic focus to Bitcoin. Chairman Salvador Martí is expected to request authorization to implement the Bitcoin Reserve Strategy at the next board meeting on June 29 and receive funding access. At present, the company has completed the first purchase, spending $500,000 to buy 5 BTC. The strategy aims to reverse the company's 2024 loss of $3.7 million.

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