Just received my tax refund today after reading an article in the Handelsblatt without further research in $EBEN without further research.
From today's press release.
The FinTech is the first German exchange company to convert its balance sheet to Bitcoin - target is 10,000 BTC by 2027. MicroStrategy investor UTXO Management chooses aifinyo for its first German investment.
Berlin, October 21, 2025 - aifinyo AG (ISIN DE000A3EX2X7, Ticker: EBEN) becomes Germany's first listed Bitcoin treasury company. With Bitcoin purchases of EUR 3 million already made and an initial investment by strategic partner UTXO Management, the FinTech is positioning itself as a "pure play". A model that Michael Saylor established with Strategy (formerly MicroStrategy) and has achieved a share performance of 2,000% since 2020.
"In five years at the latest, every DAX company will have to consider whether it needs Bitcoin on its balance sheet - as inflation protection and a strategic reserve"Garry Kruglyakov, Member of the Executive Board & Head of Bitcoin Strategy, aifinyo AG
Kruglyakov, Forbes 30-under-30 and former Entrepreneur in Residence at N26, sees aifinyo as a pioneer: "If you don't have a position on Bitcoin as CFO today, you will have to explain to investors tomorrow why your returns lag behind international competitors." He wants to use the German business model and regulation to prove that the Bitcoin strategy works in this country - "as a strategic asset, not as speculation."
Pure-play Bitcoin treasury: the aifinyo model
aifinyo pursues a consistent pure-play approach: continuous Bitcoin accumulation from operating cash flows, no trading, long-term accounting. The operating business with 8,000 B2B customers in the area of invoice management and corporate finance generates the ongoing funds for Bitcoin purchases.
"We are building the first German corporate Bitcoin machine"Stefan Kempf, Spokesman of the Management Board & Co-Founder of aifinyo AG
Every invoice that aifinyo customers pay will generate Bitcoin for shareholders in the future. "No speculation, no market timing - but systematic accumulation of a deflationary asset," explains Kempf.
With the initial investment from UTXO Management and planned follow-up investments from its own reserves, aifinyo intends to accelerate the accumulation of Bitcoin in the coming quarters. The expansion to include business accounts and credit cards planned for 2026 should further strengthen the cash flow base.
UTXO Management invests in Germany for the first time
The strategic investor UTXO Management, which specializes in Bitcoin treasury transformations, is contributing EUR 3 million at the start, which will flow directly into Bitcoin.
"It was high time that Germany got a Bitcoin treasury approach at this level"Tyler Evans, co-founder of UTXO
Evans decided early on to invest in aifinyo "because all the success factors come together here: profitable business, experienced management and a solid regulatory framework."
UTXO Management has built several Bitcoin treasury companies internationally through its hedge fund 210k Capital, LP and invests in (Micro)Strategy (currently over 640,000 BTC), Metaplanet and Moon Inc. among others. 640 Prozent and thus achieved 5th place among global hedge funds. In May 2025, UTXO announced its intention to invest USD 1 billion in Bitcoin treasury companies.
Founded in 2012, exchange and regulatory expertise
aifinyo AG was founded in 2012 and went public in 2018. Today, the company is the parent company of two BaFin-supervised subsidiaries: aifinyo finance GmbH (factoring and leasing institution) and aifinyo payments GmbH (payment institution). Bitcoin is held in custody via institutional cold storage solutions at German BaFin-regulated custodians in accordance with banking standards.
Ambitious goal: 10,000+ Bitcoin by 2027
With the goal of building over 10,000 Bitcoin by 2027, aifinyo is positioning itself as the first German pure-play approach in a global market of only 20-40 comparable companies.
