The company has already purchased €3 million worth of Bitcoin and received another €3 million investment from UTXO Management, a specialized Bitcoin investment firm. This €6 million initial commitment signals serious intent from a company that has operated in Germany’s financial sector since 2012.

How the Strategy Works

Aifinyo operates Smart Billment, a digital invoice management platform serving 8,000 business customers across Germany. Every payment processed through this platform now feeds into the company’s Bitcoin accumulation strategy. Stefan Kempf, the company’s chairman, explained the approach: “We’re building the first German Bitcoin-Maschine. Every invoice our 8,000 customers pay now generates Bitcoin for our shareholders.”

The strategy follows a “pure-play” model pioneered by Strategy (formerly MicroStrategy), which has accumulated over 640,000 Bitcoin since 2020. Unlike day traders who buy and sell frequently, aifinyo plans continuous accumulation with no trading—just long-term holding on the balance sheet.

Source: @aifinyo

The company plans to expand into business accounts and credit cards in 2026, which would strengthen cash flow and accelerate Bitcoin purchases. This approach creates what Garry Krugljakow, aifinyo’s head of Bitcoin strategy, calls a “self-reinforcing cycle.”

Strong Regulatory Foundation

aifinyo isn’t a startup rushing into crypto. The company went public in 2018 and operates two subsidiaries supervised by BaFin, Germany’s financial regulator. These subsidiaries handle factoring, leasing, and payment services—all requiring strict regulatory compliance.

Bitcoin custody follows institutional standards through German, BaFin-regulated custodians using cold storage solutions. This regulatory framework attracted UTXO Management, which made aifinyo its first German investment.

Tyler Evans, co-founder of UTXO Management, said the decision was straightforward: “It was high time Germany got a Bitcoin treasury approach of this quality. Here all the factors for success come together: profitable business, experienced management, and a solid regulatory framework.”

UTXO Management operates through its hedge fund 210k Capital, which returned 640% in 2024, ranking fifth among global hedge funds. The fund invests in Bitcoin treasury companies worldwide, including Strategy, Metaplanet, and Moon Inc. In May 2025, UTXO announced plans to invest $1 billion in Bitcoin treasury companies globally.

Leadership Team

Garry Krugljakow leads the Bitcoin strategy as board member and head of Bitcoin operations. He earned recognition as a Forbes 30 Under 30 honoree and previously worked as Entrepreneur in Residence during N26’s growth phase.

Krugljakow predicts major changes ahead: “Within five years at most, every DAX company will have to consider whether they need Bitcoin on their balance sheet—as inflation protection and strategic reserve.”

The company’s founders, Stefan Kempf and Matthias Bommer, built aifinyo into a profitable business with 8,000 B2B customers before pivoting to Bitcoin. This existing revenue stream differentiates aifinyo from companies that raised capital solely to buy Bitcoin.

Global Corporate Bitcoin Movement

aifinyo joins a growing movement of companies adopting Bitcoin as a treasury asset. As of October 2025, publicly traded companies hold over $110 billion worth of Bitcoin. Strategy alone holds approximately 640,400 BTC worth roughly $70 billion.

The company became a member of Bitcoin for Corporations, an initiative representing 38 companies holding 69% of all corporate Bitcoin. George Mekhail, managing director of the initiative, welcomed the development: “Corporate bitcoin adoption continues to expand its global footprint. We’re thrilled to welcome aifinyo as the first Bitcoin Treasury company in Germany.”

Europe’s Bitcoin Treasury Landscape

Germany’s move follows other European developments. Bitcoin Group in Germany holds 3,605 BTC, while UK-based Smarter Web Company holds 2,395 BTC and France’s The Blockchain Group has 1,653 BTC.

Netherlands-based Amdax raised $23 million in August 2025 to build Europe’s largest Bitcoin treasury, targeting 210,000 BTC (1% of total supply). Treasury B.V. secured $147 million in September 2025 to build another major European Bitcoin reserve.

The trend represents a stark contrast to Germany’s previous Bitcoin dealings. In summer 2024, the German government sold 50,000 Bitcoin seized from criminal operations, generating $2.88 billion when prices sat below $54,000. Bitcoin later surged past $89,000, meaning Germany missed out on approximately $1.7 billion in potential gains.

Why This Matters for Germany

Germany has traditionally approached financial innovation cautiously. The country’s banking sector operates under strict regulations, and corporate treasuries typically stick to conservative investments like government bonds and cash.

Aifinyo’s move challenges this approach. The company argues that Bitcoin offers protection against inflation and currency devaluation—risks that traditional assets cannot fully address. With Bitcoin’s fixed supply of 21 million coins, no government can print more, unlike fiat currencies.

The timing aligns with broader institutional acceptance. European regulations under the MiCA framework provide clearer legal guidelines for digital assets, reducing uncertainty that previously kept corporations on the sidelines.

aifinyo operates in a global market with only 20-40 comparable pure-play Bitcoin treasury companies. This small field means early movers could gain significant advantages as more institutions consider Bitcoin allocation.

The Road Ahead

Aifinyo’s 10,000 Bitcoin target by 2027 would require accumulating roughly 5,000 Bitcoin per year over the next two years. At current prices around $112,000 per Bitcoin, that represents approximately $560 million in annual purchases—an ambitious goal for a company with 8,000 business clients.

The company will need to either generate substantial operational cash flow, raise additional capital, or employ both methods to reach this target. UTXO Management’s involvement suggests future funding rounds remain possible.

Success could inspire other German companies to follow. The DAX index includes 40 of Germany’s largest corporations, many sitting on substantial cash reserves. If even a fraction adopt similar strategies, it would represent billions in potential Bitcoin demand.

Bottom Line: A Calculated Bet on Digital Scarcity

Aifinyo AG isn’t gambling on Bitcoin—they’re making a calculated treasury decision backed by regulatory compliance, profitable operations, and strategic investment from a proven Bitcoin-focused fund. Whether this approach becomes standard practice for German corporations or remains an outlier depends on Bitcoin’s performance and regulatory developments over the next few years. What’s certain is that Germany’s financial landscape just got more interesting.

---

Filed under: Bitcoin - @ October 21, 2025 9:24 pm