Nakiki SE Adopts Pure Bitcoin Treasury Strategy, Aims to Boost Demand

Nakiki SE, a German company, has recently announced a significant shift in its financial strategy by deciding to hold only Bitcoin as its cash reserve asset. This move positions Nakiki SE as the first publicly traded company in Germany to adopt a “pure Bitcoin treasury” strategy, inspired by the approach of Michael Saylor. The company aims to further fuel the demand for Bitcoin by integrating this strategy, which is becoming increasingly popular among companies globally.

During the general meeting scheduled for the second half of 2025, Nakiki SE plans to propose amendments to its name and business objectives. To fund its Bitcoin purchases, the company is in discussions with significant investors and is considering a capital increase through share issuance. The announcement highlighted that steps towards forming a Bitcoin portfolio have already been taken following meetings with potential investors, banks, and Bitcoin experts.

This trend of incorporating Bitcoin into reserve portfolios is not isolated to Nakiki SE. Evertz Pharma GmbH, another German company, announced its acquisition of Bitcoin for reserves in the early months of 2025. The company's General Manager, Dominik Evertz, stated that Bitcoin, as a scarce and globally transactable asset, supplements their reserves and fortifies the company’s long-term robustness. Evertz Pharma GmbH's mission to advocate natural beauty based on scientific foundations extends to their financial strategy, which includes Bitcoin as a key component.

While Nakiki SE aims to be the first listed company in Germany to hold only Bitcoin as its cash asset, other public firms in the region also hold Bitcoin in their balance sheets. Bitcoin Group SE, for example, includes Bitcoin in its reserves but does not focus solely on it as Nakiki SE does. This unique approach by Nakiki SE sets it apart in the German market and aligns with a global movement where over 256 institutions worldwide have added Bitcoin to their balance sheets by 2025.

Nakiki SE’s strategic transformation involves not only its financial model but also updates to its name and scope, which have been shared with investors. This approach offers enterprises seeking alternatives to traditional reserve and investment methods new avenues. As public understanding of transparency and long-term investment increases, similar actions may be taken by other firms. Bitcoin, as an alternative to cash and equivalents, is becoming a strategic tool for balance sheet management.

The rationale behind creating a Bitcoin reserve involves issuing shares to acquire Bitcoin, which can lead to an increase in share price. This, in turn, supports further Bitcoin acquisitions through additional shares and debt, ultimately multiplying the share value. The limited public-trading entities resembling Bitcoin ETFs contribute to the buoyant share valuation, which can eclipse Bitcoin reserves multiple times. This cycle of debt issuance, Bitcoin acquisitions, and share price ascendance can lead to unprecedented growth for the company, even without substantial operational changes.

While this strategy has not been widely adopted in Turkey or internationally, early investment in such firms could be lucrative under the current crypto hype. However, there is a risk of a significant bubble forming, which could lead to a bear market if it bursts. In the future, reserve companies may sell large amounts of Bitcoin, driving prices down while holding vast short positions, mirroring their equity price surge. The trajectory of this trend will be determined by government strategies, legislative adjustments, and decisions by market players in the coming days.