Vanadi Coffee stock surges 242% in a month, shareholders approve plan to establish $1.1b Bitcoin treasury

A Spanish coffee coffee actions in difficulty has soared more than the triple of its initial value after the shareholders of the company approved a plan aimed at investing up to 1 billion euros in its Bitcoin treasure.

According to a translated press releaseOn June 29, Vanadi Coffee shareholders approved the company’s change of strategy to acquire more Bitcoin (BTC) on his assessment. The listed channel which currently operates six cafes based solely in Alicante, now aims to become the largest Spanish Company with a Bitcoin treasure.

At the time of writing the editorial staff, he currently has the title of being the first Bitcoin cash company on the Spanish public list. The company would have been in a slump Since 2024, when he revealed losses of 3.3 million euros, 15.8% more compared to his performance in 2023.

Shortly after announcing its new BTC strategy, a recent opinion said that the company recently had added 20 BTC or equal to $ 2.16 million at its reserves. The last purchase of the company brought its total Bitcoin Holdings to 54 BTC on June 30. The amount is equal to more than $ 5.8 million.

The news of the pro-cockin result of the shareholder meeting has strengthened confidence in the Vanadi coffee stock. During the last month, Vanadi’s stock of coffee saw a meteoric increase up to 242.96% after its acquisition of mass of Bitcoin throughout the month of June. Shortly after the publication of the press release, the Vanadi coffee stock saw another increase in its stock by 6.62%, going from

Since April 2024, Vanadi Coffee has adopted several financial strategies to support its Bitcoin strategy, which involves investing more its corporate capital in the BTC. Now he plans to use Bitcoin as a strategic value store in his new business model.

“Vanadi Coffee redefines its business model using Bitcoin as a reserve principal, and will accumulate significant quantities of Bitcoin in the context of its treasury management,” the company wrote in its press release.

The company said it was inspired by overseas companies such as Strategy Or Metaplanetwhich has made significant progress in the implementation of a Bitcoin de corporate cash strategy. Many other companies have followed suit by making similar movements.

Previously, other European companies such as the green minerals of Norway, the Smarter web company in the United Kingdom, and the Blockchain group started to accelerate their efforts to increase large amounts of capital to buy more bitcoin.