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Spanish franchise Vanadi Coffee is now ready to execute its bitcoin purchase strategy and cryptocurrency pivot following the approval of this move at a shareholder meeting. The company already holds 54 BTC under the custody of the Spain-based exchange Bit2me.
Backing this move, the company stated:
Vanadi Coffee is committed to blockchain technology as a pillar of the global economic future. Investing in Bitcoin is a long-term commitment to a new decentralized financial model. Vanadi Coffee is diversifying its business into Bitcoin investment and management and other cryptocurrency-related areas.
Backing this move, the company stated:
Vanadi Coffee is committed to blockchain technology as a pillar of the global economic future. Investing in Bitcoin is a long-term commitment to a new decentralized financial model. Vanadi Coffee is diversifying its business into Bitcoin investment and management and other cryptocurrency-related areas.
We often hear fintech companies investing in bitcoin and we find it good news. But now we are seeing all kinds of businesses get into bitcoin as well. If this continues all across the world, they may even accept bitcoin for payment. This could be the key to mass adoption of bitcoin. Which businesses do you think could be the next to invest in bitcoin?
And to be honest, this news seems "terrible" to me from the standpoint of expecting bitcoin3 as a means of payment. Look, if even "coffee shops" instead of accepting bitcoin as a means of payment invest in this financial asset, then we can't talk about any conditional "mass acceptance" of bitcoin. This is a turning point, after which bitcoin will not be used as a means of payment in retail. Now all companies \ firms and coffee shops will only invest in this asset.
Bitcoin will probably be used as a means of payment only at the level of countries and large corporations. And we will never be able to pay for a cup of coffee with bitcoin.
And probably some day people will prefer to keep BTC and instead pay using stablecoin which is likely going to happen now that institutions thinks its the most important of all as government starts to keep BTC as strategic reserve.
But I think the Vanadi Coffee still made a good decision for keeping BTC at least they have the secured their space in Fintech. They may even evolve to an investment company if they keep stacking.