Exploring a similar path as Strategy, could Germany's latest entity be considered as a new metaplanet?
Nakiki SE, a German publicly listed company, has announced a significant strategic shift towards adopting Bitcoin as its sole treasury asset, aiming to become the first German public company with a "pure Bitcoin treasury" strategy [1][2]. This approach mirrors the financial tactics of Michael Saylor and his company MicroStrategy, focusing entirely on Bitcoin for treasury reserves rather than traditional assets [1][2].
### Historical Background and Current Developments
Nakiki SE publicly declared this strategy in July 2025, with plans to propose a name change and revise its business purpose to reflect this new direction at its upcoming annual general meeting in late 2025 [1][2]. To support the Bitcoin acquisition, the company is in discussions with key investors and plans to raise capital through share issuances, signalling a major capital allocation towards cryptocurrency investment [1][2].
Marc Guilliard of Bitcoin Hotel LLC has been appointed as the lead advisor for Nakiki SE's Bitcoin treasury strategy, providing expertise in areas such as treasury management, Bitcoin self-custody, capital market communication, and international positioning [3]. This move differentiates Nakiki SE from other German firms like Bitcoin Group SE, which hold bitcoin but don’t actively pursue a pure Bitcoin treasury approach.
### Potential Risks
The decision to adopt Bitcoin as the sole treasury asset introduces several risks. These include volatility risk, regulatory uncertainty, custodial and security risks, market perception and investor sentiment, and liquidity concerns [1][2][3]. Nakiki SE’s success will depend on careful management of these potential risks.
### Further Information
For those interested in learning more about Bitcoin-related investment opportunities, a subscription to the Bitcoin Report is available at a discount. More information about the "Bitcoin Direct ETP" product, which allows direct investment in Bitcoin like buying a stock, can be found here.
[1] https://www.nakiki.de/en/ [2] https://www.bitcoin-hotel.io/ [3] https://www.bitcoin-treasury.com/
Nakiki SE is planning to raise capital through share issuances to support its Bitcoin acquisition, marking a significant shift in its finance strategy towards Bitcoins. With Marc Guilliard of Bitcoin Hotel LLC as the lead advisor, Nakiki SE aims to become the first German public company with a "pure Bitcoin treasury" strategy, differentiating itself from other German firms like Bitcoin Group SE.
