Vanadi Coffee, a modest six-store café chain in Alicante, just voted to throw €1 billion into Bitcoin. Yes, that’s like the coffee shop two or three levels below Tim Hortons or Dunkin betting the farm on BTC.

Struggling financially, the company’s board is now betting the house on crypto, hoping a radical pivot will do what espresso couldn’t. Critics are calling it reckless. Others say it’s the smartest move since El Salvador.

Meanwhile, read to the end of the article to hear about a new Bitcoin-based altcoin about to make its debut.

Market Cap

From Coffee to Crypto

On June 29, Vanadi’s shareholders unanimously voted to adopt Bitcoin as their primary reserve asset. The company, which already holds 54 BTC, purchased another 20 BTC in June at an average price of $109,880 per coin.

Vanadi has now emerged as Spain’s first publicly-listed Bitcoin treasury firm, mirroring strategies employed by companies like MicroStrategy.

“Vanadi Coffee redefines its business model and will use Bitcoin as its main reserve asset, accumulating large amounts as part of its treasury strategy,” the company said in its announcement.

A Lifeline for a Struggling Business?

Conversely, if you strip away the hype, you’ll find a café chain running on fumes. Losses hit €3.3 million last year, and while Vanadi’s stock is up, so are the red flags.

While it does offer a potential lifeline for the company, several critics warn of the significant risks involved.

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Andrew Bailey, a senior fellow at the Bitcoin Policy Institute, weighed in, stating, “A badly run business doesn’t become a good one just because it is acquiring sound money.”

Critics aren’t just worried about Bitcoin’s mood swings. Vanadi’s tiny footprint, zero crypto track record, and plans to dilute shareholders by up to 20% raise alarms.

This could be Vanadi’s ticket out of financial purgatory—or the last bad decision before collapse. Bitcoin doesn’t do half-measures.

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EXPLORE: XRP Price Jumps 11% After SEC Crypto Unit Tease XRP ETF Progress

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Key Takeaways

  • Vanadi Coffee, a modest six-store café chain in Alicante, just voted to throw €1 billion into Bitcoin.
  • While Vandai lives on prayer that Bitcoin breaks $125,000 or more, innovators and early movers are hooked on the groundbreaking BTC Bull Token ($BTCBULL).

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Isaiah Mccall
Isaiah Mccall
99BTC Japan Correspondent

Isaiah McCall is an ultramarathon runner and Japan Correspondent for 99Bitcoins. He started at USAToday in 2019 and now has a Medium blog following of 30k+ and millions of views. Follow him at @AfroReporter Read More

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