Vanadi Coffee, a small cafe chain based in Alicante, Spain, has officially approved an ambitious plan to invest up to 1 billion euros (approximately $1.17 billion) in Bitcoin.
The decision, made during the shareholders meeting on June 29th, is a major change for a company that has lost money in just six places.
Although it reported a net loss of 3.3 million euros in 2024 and its annual revenues are just 2 million euros, Vanadi is betting its future on Bitcoin. The company will employ Bitcoin as its main reserve asset, similar to larger players such as the US-based strategy (formerly MicroStrategy) and Japan’s Metaplanet.
“Investing in Bitcoin is a long-term commitment to a new, diversified financial model.” Vanadi said in an official statement. “Vanadi Coffee diversifies its business into Bitcoin investment and management, as well as other cryptocurrency-related sectors.”
The idea of going to Bitcoin First came into view three weeks ago when Vanadi chairman Salvador Marti proposed plans after months of decline in stock prices and declining financial performance.
When the company went public in July 2023, the shares were trading at 3.28 euros. By early June 2025, the stock had fallen to 0.28 euros, down 91%.
Vanadi Coffee called Bitcoin a strategic asset and said it would help protect and grow the company’s assets.
In May, the cafe chain bought its first Bitcoin: 5 BTC at a cost of around $527,000. After that announcement, inventory rose. However, the boost declined as Bitcoin prices fell and investors awaited action.
With the plan approved, Vanady began to execute. The company has just added 20 btc to its holdings, bringing it to a total of 54 btc. This is worth around 5.8 million euros.
Vanadi funds Bitcoin accumulation through convertible financing and capital raising. This means that the company can issue new debt or fairness to bring in funds. This gives you flexibility, but if not properly managed, it could also dilute existing shareholder value.
The board has been permitted to negotiate one or more convertible funding lines to fund loans up to 1 billion euros for the implementation of the aforementioned Bitcoin accumulation strategy,” the company announced.
Strategies are already attracting institutional attention. The two supporters are Patblasc Software Consulting, a small local company that provided 50 million euros, an international investment group supporting Banadi as part of a 15 euros 1.5 billion program.
Despite the doubts, the market loves it. Vanadi stock rose 240% last month and exceeded 500% this year, making it one of Spain’s top performers on BME growth index.
It shared more than tripled its shares in June after the company announced that everything would go on with Bitcoin.
The analysts are split. Some view them as bold and positive. Others warn of great risk given their lack of experience with digital assets and their small size.
Analysts say Café Chain’s 1 billion euro Bitcoin bet is a huge risk and backfires when the Bitcoin market intervene or regulatory intervenes.
Critics point to several concerns. Vanadi has thinner margins and increased costs. Meanwhile, Spain’s regulatory stance on large-scale corporate Bitcoin investments is unknown.
What sets Banadi apart is the scale of its bet compared to its size. In Europe, Bitcoin is one of the largest ever Bitcoin pivots for companies of this kind and size, with 1 billion euros.
Will this bet be rewarded or will it be a warning story? Only time can be seen.
