Vanadi Coffee adds two more Bitcoin as corporate reserves climb past $9M
Spanish coffee chain continues crypto accumulation strategy despite slight BTC price dip
Spanish coffee franchise Vanadi Coffee has expanded its Bitcoin holdings with the purchase of two more BTC, spending over €202,000 on July 23. The latest addition pushes the company’s total reserves to 76 BTC, now valued at more than $9 million.
According to a translated press release, the purchase was made at an average price of $119,425 per Bitcoin. While BTC has since dipped slightly-down 0.36% in the past 24 hours to $118,616-it remains near its recent high of $120,222, just shy of its all-time high of $122,838.
The move underscores Vanadi Coffee’s continued commitment to its Bitcoin treasury strategy, even amid short-term market fluctuations.
Vanadi Coffee’s humble beginnings of acquiring Bitcoin
Vanadi Coffee initiated its Bitcoin treasury strategy in April 2024, inspired by the playbooks of Michael Saylor and Japan’s Metaplanet. At the time, the company was operating at a loss of €3.3 million-up more than 15% from the previous year.
In June, Vanadi officially declared Bitcoin its primary treasury asset, becoming the first publicly listed company in Spain to make such a move. Following the announcement, the company’s stock soared by 242%.
To support its Bitcoin-focused financial strategy, Vanadi has committed to allocating portions of its corporate capital into BTC as a long-term store of value. The company’s stated goal is to become the largest Bitcoin-holding firm in Spain.
