Spanish coffee chain Banadi Coffee is planning a bold shift as it is about to transform from a struggling hospitality brand into a Bitcoin-centric holding farm.
According to a report by Europa Press, the company is proposing an allocation of 1 billion euros (approximately $1.13 billion) to Bitcoin as part of a broader financial overhaul.
The announcement quickly affected market sentiment surrounding stocks. According to Google Finance data, Vanadi shares have grown 19.93% over the past 24 hours and are currently trading at around 0.33 euros per share.
Why Vanady is pivoting towards Bitcoin
This change comes shortly after increasing the company’s financial challenges. In 2024, Vanadi recorded a loss of 3.3 million euros, changing to a 16% increase from the previous year.
Furthermore, the company does not expect profitability until 2027, when it hopes to generate a moderate gross operating profit of around 23,000 euros.
Plus, Vanadi’s stock performance is also disastrous. Since its market debut, stocks have plummeted more than 99%, making it an attractive option for short sellers.
With this in mind, Vanadi’s leadership hopes that a proactive pivot to become a company focused on Bitcoin Treasury from core hospitality operations will significantly improve its fate.
The proposed shift is led by Banadi’s board chair Salvador Marti, who defends bold fiscal restructuring centered around Bitcoin.
Martí is pursuing up to 1 billion euros in Bitcoin investments and demanding approval from shareholders to negotiate conversion funding transactions to support the initiative.
If successful, Vanady will join the growth list of small businesses employing Bitcoin as a financial asset. The move follows a playbook popularized by a strategy (formerly MicroStrategy), which has more than 580,000 BTC and has earned around $20 billion of unrealized profits.
However, critics view these changes skeptically.
Jacob King, CEO of Whale Wire, calls Vanadi’s Pivot a promotional stunt, with X having only 48 followers and no actual Bitcoin Holdings.
According to him:
“This is not a belief in Bitcoin, it’s the last attempt to create hype. Companies don’t buy BTC from confidence.