Shareholders of Vanadi Coffee have authorised management to invest as much as €1 billion (about $1.1 billion) of corporate funds in Bitcoin
Shareholders of Vanadi Coffee have authorised management to invest as much as €1 billion (about $1.1 billion) of corporate funds in Bitcoin, positioning the Spanish chain to build the country’s largest publicly traded holding of the cryptocurrency.
The Alicante-based company, which runs six coffee shops and has struggled to grow its core business, already owns 54 BTC worth around $5.8 million. Management said the additional coins will be financed through private investors rather than operating cash.
Vanadi’s move echoes the high-profile treasury strategy adopted by U.S. software firm MicroStrategy and marks one of the most aggressive digital-asset bets by a European consumer company to date.
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Source: https://thedefiant.io/news/markets/vanadi-coffee-shareholders-approve-eur1-billion-bitcoin-investment-plan-92990063