Nakiki SE plans to raise tens of millions of euros to buy Bitcoin, aiming to become the first publicly listed company in Germany with pure BTC reserves.

German listed company Nakiki SE is evaluating the issuance of tens of millions of euros in corporate bonds to specifically purchase Bitcoin, replicating the MicroStrategy model, as the market weighs the risks and potential impacts. (Background: Bitcoin reserve companies: Why spend $2 to buy $1 worth of BTC?) (Additional context: Taiwan's first Bitcoin reserve company is born! Will 大大寬頻 / 大豐電 become the Taiwanese version of MicroStrategy?) German Frankfurt listed company Nakiki SE announced on the 27th that it is currently evaluating the issuance of several tens of millions of euros in corporate bonds, with the funds primarily to be invested in Bitcoin. According to the official press release, the company has entered the "pre-market exploration" stage, seeking to understand pricing and interest rates from professional investors. Replicating the Strategy path, with both timing and risk Nakiki SE has publicly stated its goal to become the first listed company in Germany with Bitcoin as its core reserve asset, a strategy similar to the "debt accumulation and coin retention" model of the American Strategy. The company is also initiating an expansion plan into the United States and has hired consultant Andreas Heine, hoping to expand its influence in a more favorable regulatory environment in the U.S. If the bond issuance goes smoothly, Nakiki's stock price will be more closely linked to Bitcoin's trends, providing investors with an alternative way to access encryption assets. However, to compensate for Bitcoin's high volatility, investors may demand higher yields; if prices fall, the company will simultaneously face asset impairment and fixed interest pressure. For shareholders, whether Nakiki remains a fintech company or effectively transforms into a Bitcoin ETF, the lines are beginning to blur. In the coming weeks, responses from professional investors regarding the bond terms will serve as the most direct vote of confidence and provide key references for whether European companies will follow suit. Introduction to Nakiki Company Establishment and early business Nakiki SE was initially named windeln.de SE, established in 2010, and is an e-commerce platform focusing on baby products, selling items such as diapers, children's clothing, baby food, and furniture, with its largest market even extending to China. Operational difficulties and restructuring The 2019 financial report showed the company had revenues of approximately 82.3 million euros, but EBIT was −13.8 million euros, indicating a loss. In 2022, it even filed for bankruptcy protection, facing significant transformation pressure. Bankruptcy rebirth and transformation starting point After being taken over by an investor team in 2023, the company successfully freed itself from debt constraints through debt negotiations and capital restructuring, achieving a "clean" restart while retaining its listing status. In 2024, it completed the name change to Nakiki SE and officially absorbed Legal Finance SE, beginning to focus on "process financing" business. Related reports Notcoin founder: Click-to-earn model is dead, what’s the next step for Telegram game development? Telegram Mini App game analysis: Is it beneficial for player participation in the ecosystem or Pay to Win? September blockchain game research report: Industry warms up, Telegram games spark a craze. <Nakiki SE plans to raise tens of millions of euros to buy Bitcoin, aiming to become Germany's first pure BTC reserve listed company> This article was originally published in BlockTempo, the most influential blockchain news media.