Struggling Coffee Chain Vanadi Bets Big on Bitcoin to Revive Its Sinking Stock

Hang onto your lattes, folks! Spanish coffee chain Vanadi is ditching the beans for Bitcoin in a bold move to pump up its floundering stock price. That's right, they're going all in on crypto!

Bitcoin (BTC) is turning heads left and right, and Vanadi is the latest company to catch the fever. On Wednesday, they dropped a bombshell: they're planning to sink a whopping $1.1 billion into the king of crypto. Talk about a caffeine jolt for their business!

Salvador Martí, the big boss at Vanadi Coffee SA, isn't messing around. He's ready to flip the script from coffee to crypto, and he's gunning for the board's blessing at their next powwow on June 29. "Give me the green light to load up on Bitcoin with a cool billion euros ($1.1 billion USD), and let me wheel and deal some convertible financing to make it happen," Martí declared.

The plan? Rake in the cash through a public stock offering, following the lead of companies like GameStop and Strategy. Vanadi's already dipped its toes in the crypto pool, shelling out $500,000 for 5 Bitcoins. Now, they're ready to dive headfirst into the deep end, hoping to ride the Bitcoin wave to new heights.

Corporate Bitcoin Pivots Draw Major Heat

Vanadi's not the first to try this crypto gamble, and it's not all smooth sailing. They're following in the footsteps of Michael Saylor's MicroStrategy, but critics are crying foul. Many of these companies are already struggling to keep their core biz afloat, and some say they're just chasing the hype to pump their valuations.

The Bitcoin diehards are spinning tales, and not everyone's buying it. "They're not here to educate, they're here to pump their bags and fleece the newbies," one skeptic blasted on Twitter. And the hype train about "coffee giant" Vanadi pouring billions into BTC? It's got people raising eyebrows.

Since hitting the scene in 2023, Vanadi's stock has been on a wild ride. It kicked off at $3.30, but it's been a bumpy road, losing over 90% of its value. The Bitcoin buzz gave it a quick 18.8% bump, but it's still way off the mark. As of June 4, Vanadi Coffee SA was trading at a measly $0.3280 per share on the Madrid Stock Exchange. Will their crypto bet pay off, or will it leave them with a bitter taste?