Vanadi Coffee, a modest café chain based in Alicante, Spain, has secured shareholder approval for one of the most ambitious Bitcoin treasury plans ever announced by a European small-cap company.
On June 29, Vanadi’s investors voted in favor of authorizing up to €1 billion (roughly $1.17 billion USD) for Bitcoin purchases, positioning the six-location chain to become Spain’s largest corporate holder of BTC.
According to a regulatory filing, Vanadi has already accumulated 54 Bitcoin—valued at approximately $5.8 million—as an initial step toward the target. The announcement has sparked a frenzy in the company’s stock price, which tripled in June after news of the plan first surfaced.
Vanadi has struggled financially, reporting €3.3 million in losses last year, up nearly 16% from 2023. Management now hopes that pivoting toward Bitcoin will transform the firm’s prospects.
“Like MicroStrategy and Metaplanet, Vanadi Coffee is redefining its model, making Bitcoin the primary reserve asset and committing to large-scale accumulation,” the company said in a translated statement to shareholders.
Investment Partners and Execution Challenges
To finance its pivot, Vanadi announced two investment proposals in May. The first is a €50 million offer from an Alicante-based software consultancy. The second comes from Alpha Blue Ocean, a family office that claims to have invested more than €1.5 billion in 15 countries.
The firm will rely on Spanish exchange Bit2Me as its exclusive liquidity and custody partner for the planned Bitcoin acquisitions.
This move comes amid a wave of corporate treasury plays by firms hoping to hedge inflation and capture upside in crypto markets. Earlier this month, crypto infrastructure company Bakkt revealed plans to raise as much as $1 billion to buy Bitcoin for its balance sheet.
Yet Vanadi’s limited scale and lack of experience in digital asset management could present hurdles as it attempts to emulate larger players.
Matthew Howells-Barby, VP of Growth at Kraken, told CoinrockMedia that small companies following this strategy should be prepared for volatile outcomes.
“These are either going to be very successful companies over a three to five-year time frame,” he said,
“Or we’ll look back after some big implosions and wonder how anyone ever thought this was a good idea.”
The Bitcoin Treasury Trend Spreads
Vanadi is one of several firms worldwide to announce Bitcoin-focused treasury policies in 2024 and 2025. MicroStrategy, led by Michael Saylor, continues to expand its holdings and now owns more than 1% of Bitcoin’s circulating supply.
In Japan, Metaplanet has also attracted attention by aggressively acquiring BTC and signaling plans to raise billions to expand its reserves. Smaller public firms in Norway, South Korea, and France have followed suit, often boosting their share prices by announcing Bitcoin strategies.
While proponents argue this playbook can protect purchasing power against fiat currency depreciation, critics warn that it exposes shareholders to enormous risk and that leverage-fueled accumulation could backfire in a downturn.
For Vanadi Coffee, the coming quarters will reveal whether it can balance the volatility of the crypto markets with the challenges of running a struggling café business.
Quick Facts
- Vanadi Coffee’s shareholders approved up to €1 billion in Bitcoin purchases, despite the firm’s small size and prior losses.
- The company has already acquired 54 BTC and seen its stock more than triple in June.
- Partners include Bit2Me for custody and Alpha Blue Ocean as a prospective investor.
- The move follows similar treasury strategies by MicroStrategy, Metaplanet, and Bakkt.
