Spanish Coffee Giants See Stock Market Rally After $1 Billion Bitcoin Plan

Vanadi Coffee’s shareholders approved its Bitcoin accumulation plan, opening with a $6.8 million purchase of 54 BTC. It plans to invest $1.17 billion in total, which would make it Spain’s largest Bitcoin holder.

So far, Vanadi’s plan seems to be working, with impressive stock price gains in the last few days. However, economists warn of a corporate Bitcoin bubble that the firm might not be able to withstand.

Companies around the world are turning to the Bitcoin treasury strategy, following in MicroStrategy’s footsteps to make radical business pivots.

Earlier this month, Vanadi Coffee did the same, proposing to spend over $1 billion on Bitcoin to replace a flailing core business. At a board meeting yesterday, shareholders unanimously approved the proposal:

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