Spanish coffee giant Vanadi Coffee has announced plans to raise over $1.1 billion to purchase Bitcoin. This would position it as Europe’s first major “Bitcoin-first” consumer brand.
It is set to propose the ambitious Bitcoin accumulation plan at its upcoming board meeting on June 29. Chairman Salvador Martí, the architect behind the initiative, revealed that the company will seek board approval to raise the funds through a stock issuance and possibly convertible bonds, with the explicit goal of building a significant Bitcoin reserve.
MicroStrategy Paved the Way
Strategy’s (formerly MicroStrategy) high-profile accumulation of over 576,000 BTC has inspired a growing number of public companies to follow suit. These include recent headline-makers such as GameStop and the Norwegian firm K33.
Furthermore, Vanadi Coffee’s move comes amid a wave of institutional adoption of Bitcoin. For example, the approval of spot Bitcoin ETFs in the U.S. earlier in 2024 and supportive policy signals, such as President Trump’s executive order on a strategic Bitcoin reserve.
As Bitcoin’s price hovers near all-time highs, more companies view the cryptocurrency not just as a speculative asset. It has also become a strategic treasury reserve and hedge against inflation. Vanadi Coffee’s $1.1 billion commitment would place it among the largest corporate holders of Bitcoin in Europe. This would add it to the ranks of global heavyweights like Tesla, Block, and Marathon Digital.
Despite facing financial headwinds, Vanadi Coffee’s leadership believes the Bitcoin pivot will future-proof the company and attract a new generation of tech-savvy customers.
“We see this as a calculated risk that aligns with our vision for innovation and resilience,” Martí noted, echoing sentiments shared by other Bitcoin treasury firms.
What’s Ahead for Vanadi Coffee
The proposal is scheduled for presentation to Vanadi Coffee’s board on June 29. If approved, the company will begin the process of issuing stock and convertible bonds, with proceeds earmarked for Bitcoin purchases executed in tranches to minimize market impact.
