Summary
- Spanish coffee chain 'Banadi' reportedly considering plans to invest over $1.1 billion in Bitcoin.
- Banadi announced it will shift its business model to focus on Bitcoin investment.
- Banadi's board plans to discuss the execution of a Bitcoin reserve strategy and approval for funding.
Spanish coffee chain 'Banadi' is looking to transform itself into a Bitcoin (BTC) investment company.
According to BeInCrypto on the 3rd (local time), Banadi is reviewing a plan to invest over $1.1 billion in Bitcoin. Notably, Banadi is expected to shift its business model to focus on Bitcoin investment, rather than simply trying to offset losses with Bitcoin.
To this end, Salvador Marti, chairman of Banadi, plans to request approval for the execution of a Bitcoin reserve strategy and funding at the board meeting on the 29th.
Banadi Coffee previously invested $500,000 to acquire five Bitcoins.
Earlier, Banadi posted a $3.7 million loss in 2024.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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