Germany?s Bild newspaper said on Wednesday that it has bought two Greek bonds.
Bild revealed that it invested just over 10,000 euros in Greek debt, buying the bonds at less than 50 percent of their face value.
One note matures on March 20, the other on May 20, 2013.
If Greece succeeds in agreeing on a voluntary haircut with its bondholders, then Bild could be among those who hold out and force Athens to pay the full value of the bonds.
This would mean the German daily could more than double its money.
It said that any profits would go to charity.