The Spanish coffee chain Vanadi Coffee continues to accumulate Bitcoin, increasing its reserves to 76 BTC, underlining its strategy of utilizing cryptocurrency in business.
Additional BTC Purchases
Vanadi Coffee has purchased two additional BTC, bringing its reserves to 76 BTC. The total spent on Bitcoin purchases has exceeded €202,000. On July 23, the price of one BTC was $119,425.
Bitcoin Accumulation Strategy
Since April 2024, Vanadi Coffee has implemented a Bitcoin accumulation strategy inspired by Michael Saylor's approach. This decision confirms the company's aspiration to become the largest BTC custodian in Spain. In June, Vanadi officially announced its new policy, leading to a 242% increase in its stock price.
Company's Financial Performance
Despite the successful stock performance, Vanadi Coffee has also faced financial challenges, incurring losses amounting to €3.3 million in 2024, which is 15% more than the previous year. The new Bitcoin strategy aims to support corporate capital.
Thus, Vanadi Coffee is actively developing its Bitcoin accumulation strategy despite encountering financial challenges, which may positively impact its future.
