The Canadian online meal delivery service Goodfood bets on Bitcoin, following in Strategy’s footsteps.
For months, investors have had very little confidence in the meal-delivery corporation, seeing how it quickly lost nearly all its market value during the COVID-19 pandemic. However, CEO and Co-founder Jonathan Ferrari believes purchasing Bitcoin could be the company’s saving grace.
Goodfood has purchased $1 million of Bitcoin already
Thanks to its investments in Bitcoin, Strategy has already earned the favor of both retail and institutional investors. The company even plans to issue $2 billion of convertible debt to raise funds for additional Bitcoin purchases.
So far, in 2025, the software firm has spent roughly $3.2 billion on BTC at a weighted average price of $101,232, while in 2024, the company bought more than 250,000 BTC at an average price of about $85,447. Not to mention, the company’s stock is currently worth almost twice as much as its $45 billion in cryptocurrency holdings.
Goodfood’s Ferrari is seemingly taking notes from Strategy’s approach and success and planning to jump on the BTC train. He commented:
We have a nice core business, but it’s too small to be relevant to the capital markets. I think as we start investing more into our Bitcoin treasury strategy, we’ll be able to create more liquidity in our stock and attract investors.
Jonathan Ferrari
Ferrari has already invested the company’s funds in purchasing $1 million of Bitcoin in January. He even plans to make more acquisitions using a “significant” amount of Goodfood’s remaining cash.
More companies and businesses are investing in Bitcoin, including Metaplanet
Aside from Goodfood, other companies have mirrored Strategy Bitcoin’s approach, including Trump Media & Technology Group Corp., which dedicated some of its funds to crypto investments in January.
Japanese hotel Metaplanet also sold almost all of its holdings in 2024 and used the funds to buy Bitcoin, earning the name “The Bitcoin Hotel.” On February 17, the hotel acquired an additional 269.43 BTC, bringing its cumulative holdings to 2,031, valued at nearly $200 million.
While multiple companies are increasingly investing in Bitcoin, their crypto acquisitions have raised concerns about the suitability of speculative assets like cryptocurrencies and their inclusion in corporate treasury holdings.
Crypto is still highly volatile, and its value could fall or rise drastically, affecting companies’ investments. When the token dips, the impact could be worse for companies that had to borrow funds to make digital asset purchases.
Austin Campbell, a crypto consultant and former Wall Street trader, argued similarly that when you make purchases with debt, and their price falls when your debt is due, “you have a problem.”
