Struggling Spanish coffee chain Vanadi Coffee SA is making a dramatic shift in its corporate strategy, announcing plans to invest up to $1.1 billion in Bitcoin (BTC) in a bold attempt to revive its plummeting stock price. The company’s chairman, Salvador Martí, shared the announcement on Wednesday, signaling a full-scale pivot away from its core coffee business.
From Coffee to Crypto: A Radical Reorientation
Vanadi, which debuted on the Madrid Stock Exchange in 2023, has seen its share price tumble more than 90% from its initial public offering (IPO) level of $3.30. As of June 4, the stock was trading at $0.3280 per share—a stark indicator of investor disillusionment with the company’s performance.
In response, Martí has proposed a radical strategy aimed at transforming Vanadi into a Bitcoin-first entity. The plan includes seeking board approval on June 29 to authorize a massive BTC acquisition strategy backed by up to €1 billion ($1.1 billion USD).
“I ask the board for authorization to implement the Bitcoin accumulation strategy with a maximum of 1 billion euros and carte blanche to negotiate one or more lines of convertible financing,” Martí stated.
The company has already taken its first steps, acquiring 5 Bitcoins worth roughly $500,000. Now, it hopes to scale those holdings dramatically through a public stock offering, mirroring the capital-raising strategies used by companies like GameStop and MicroStrategy.
Riding the Saylor Playbook Amid Core Business Decline
Vanadi is the latest in a growing number of firms attempting to replicate the Michael Saylor playbook pivoting to Bitcoin accumulation to regain investor attention and rebuild market value. However, many of these firms face criticism for using Bitcoin not as a treasury diversification tool, but as a last-ditch lifeline after core business models have faltered.
Skeptics argue that such moves often focus more on stock price hype than long-term sustainability, especially when executed by companies with declining revenues and minimal blockchain expertise.
Market Response: A Temporary Boost
Following the announcement, Vanadi’s share price saw a brief 18.8% spike, fueled by retail interest and Bitcoin optimism. Yet despite the surge, the stock remains deeply underwater relative to its IPO price, and long-term investor sentiment remains cautious.
Outlook: High Risk, High Reward?
While some investors may see Vanadi’s pivot as visionary, others view it as a high-risk gamble. The success of this transition will depend not only on Bitcoin’s market performance but also on the company’s ability to effectively manage digital asset operations, raise funds, and navigate regulatory scrutiny.
Vanadi Coffee’s decision to stake its future on Bitcoin marks one of the boldest corporate pivots to date in the crypto space. As it prepares to raise up to $1.1 billion for BTC accumulation, all eyes will be on the June 29 board meeting and on whether this high-stakes gamble can truly revive the fortunes of a struggling coffee chain.
