Japanese nail salon operator Convano has officially launched its Bitcoin (BTC) acquisition strategy, following its ambitious plan to raise approximately ¥434 billion ($3 billion) to purchase 21,000 Bitcoin, equivalent to 0.1% of the total supply.
According to an August 30 Bloomberg report, the Tokyo-listed nail salon company plans to become one of the world’s largest corporate Bitcoin holders.
In response, Taiyo Azuma, Director of Convano’s BTC Holding Strategy Office, outlined a three-phase Bitcoin acquisition plan, with a target of 2,000 BTC by the end of 2025.
The portfolio is expected to reach 10,000 BTC by August 2026, as Azuma stated, “Our goal is clear. By March 2027, we aim to acquire 21,000 BTC and become one of the world’s leading Bitcoin-holding companies.“
Convano frames its BTC pivot as a strategic response to macroeconomic challenges.
A prolonged decline in the yen, approximately 21% weaker against the dollar over the past decade, has increased costs for wages and raw materials in its consumer services business.
“We started to think about Bitcoin because of persistent yen depreciation and geopolitical risks,” Azuma told Bloomberg. “Bitcoin is a long-term store of value.”
Of the funds Convano has raised to date, ¥4.5 billion came from corporate bonds, and it has acquired 365 Bitcoin with it.
The Bitcoin acquisition announcement has driven Convano’s stock higher, with shares climbing 223.27% in the past month and surging 1,414.68% YTD.
Source: Google Finance
Japan has become an unexpected hub for Bitcoin accumulation through publicly listed companies.
Metaplanet Inc., a former hotel operator, now holds nearly 19,000 Bitcoin, ranking among the top 10 global holders.
According to Bitcoin Treasuries, seven Japanese companies now rank among the top 100 public firms holding BTC.
However, the sustainability of crypto treasury strategies remains a topic of debate.
Bitcoin acquisition leaders like StrategyB (formerly MicroStrategy) face challenges as MSTR stock has declined 15.35% over the past 30 days while Bitcoin trades 12.85% below its two-week high of $124,457.
If StrategyB could face this risk, a heavy drop in Convani stock means its financing model can collapse.
When asked about concerns regarding Bitcoin price volatility, Azuma believes the perceived risk is actually beneficial.
According to him, Convano welcomes Bitcoin price drops for four reasons.
First, lower prices allow the company to acquire more Bitcoin. Secondly, higher volatility increases the company’s revenue.