The approval of spot Bitcoin ETFs in January 2024 and the signing of an executive order by US President Donald Trump on a strategic Bitcoin reserve have increased institutional appetite for BTC.
While many new companies have been purchasing Bitcoin in the last two months, a new one is being added to them.
Accordingly, the latest news came from Spain, where Spanish coffee chain brand Vanadi Coffee announced that it plans to invest up to 1 billion euros ($1.1 billion) in Bitcoin.
Stating that it plans to transform into a completely “Bitcoin-focused” company, Vanadi Coffee announced that they are following MicroStrategy’s strategy.
Vanadi Coffee Chairman Salvador Martí plans to raise funds through a stock issuance and obtain authorization at the board meeting to implement the Bitcoin accumulation plan.
Bitcoin plans will be discussed at the upcoming board meeting on June 29, with President Salvador Martí seeking approval for BTC investment
“We will propose to the board of directors the issuance of convertible bonds to create a Bitcoin reserve fund.”
Led by MicroStrategy, many new companies have recently purchased Bitcoin, with the most buzz being undoubtedly the US gaming giant GamStop. In the last days of May, GameStop announced that it had purchased 4,710 Bitcoin.
*This is not investment advice.
