A new organic molecular conductor, based on a spiro-biphenalenyl neutral radical, simultaneously exhibits bistability in three physical channels: electrical, optical, and magnetic. In the paramagnetic state, the unpaired electrons are located in the exterior phenalenyl units of the dimer, whereas in the diamagnetic state the electrons migrate to the interior phenalenyl units and spin pair as a pi-dimer. Against all expectations, the conductivity increases by two orders of magnitude in the diamagnetic state, and the band gap decreases. This type of multifunctional material has the potential to be used as the basis for new types of electronic devices, where multiple physical channels are used for writing, reading, and transferring information.