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Convano, a Japanese nail salon operator, has officially initiated its Bitcoin (BTC) acquisition strategy, aiming to raise around ¥434 billion ($3 billion) to acquire 21,000 Bitcoin, which represents 0.1% of the total supply.
As reported by Bloomberg on August 30, the Tokyo-listed nail salon intends to position itself among the largest corporate Bitcoin holders globally.
In this context, Taiyo Azuma, Director of Convano’s BTC Holding Strategy Office, detailed a three-phase Bitcoin acquisition approach, targeting 2,000 BTC by the end of 2025.
コンヴァノがブルームバーグに取り上げられました。ありがたいことに、徐々に国際的な認知が広がっているのを感じています。私たちの目標は明確。2027年3月までに「21,000 BTC」を獲得し、世界有数のビットコイン保有企業になることです。 https://t.co/cLC1Ew6ZdA
— 東 大陽 | コンヴァノ取締役（6574） (@MotokiyoA) August 30, 2025
The portfolio is projected 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 Bitcoin Acquisition Strategy Is a Response to Japan’s Economic Pressures
Convano positions its BTC strategy as a tactical response to macroeconomic pressures.
A sustained depreciation of the yen, approximately 21% weaker against the dollar over the last decade, has raised expenses for wages and raw materials in its consumer services sector.
“We began considering Bitcoin due to ongoing yen depreciation and geopolitical uncertainties,” Azuma informed Bloomberg. “Bitcoin serves as a long-term store of value.”
Of the funds Convano has secured thus far, ¥4.5 billion was sourced from corporate bonds, allowing for the acquisition of 365 Bitcoin.
The announcement regarding Bitcoin acquisition has positively impacted Convano’s stock, with shares increasing by 223.27% over the past month and soaring 1,414.68% year-to-date.
Source: Google Finance
Japan has emerged as an unexpected center for Bitcoin accumulation through publicly traded companies.
Metaplanet Inc., a former hotel operator, now possesses nearly 19,000 Bitcoin, placing it among the top 10 global holders.
According to Bitcoin Treasuries, seven Japanese firms currently rank within the top 100 public companies holding BTC.
Nonetheless, the viability of crypto treasury strategies continues to be a subject of discussion.
Leaders in Bitcoin acquisition, such as StrategyB (formerly MicroStrategy), are encountering difficulties as MSTR stock has dropped 15.35% in the last 30 days while Bitcoin trades 12.85% below its two-week peak of $124,457.
If StrategyB faces such risks, a significant decline in Convano stock could jeopardize its financing model.
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When questioned about concerns regarding Bitcoin price fluctuations, Azuma perceives the perceived risk as advantageous.
He stated that Convano welcomes declines in Bitcoin prices for four reasons.
「ビットコインの価格が下がると困りませんか？」
取材でよく聞かれますが実は”むしろ逆”です。
なぜコンヴァノはBTCの価格が下がると嬉しいのか、
①価格が下がると枚数を多く積める
②ボラティリティが高いほど収入が増える
③「低レート×高ボラティリティ」が最適
④実務ではリスクを管理… pic.twitter.com/EIHJN2XetV— 東 大陽 | コンヴァノ取締役（6574） (@MotokiyoA) August 15, 2025
Firstly, lower prices enable the company to acquire more Bitcoin. Secondly, increased volatility enhances the company’s revenue.
He further explained that the combination of “low rates and high volatility” creates ideal conditions for achieving the 21,000 BTC target. Lastly, the company can effectively manage the associated risks.
Experts Warn Bitcoin Acquisition Strategy Built on “Shaky Ground”
However, experts such as Matthew Sigel, head of digital assets research at VanEck, contend that Bitcoin treasury strategies employed by public companies are based on “shaky ground,” with escalating risks that could diminish shareholder value.
Sigel noted that when stocks trade significantly above their Bitcoin net asset value (NAV), issuing new equity results in premiums.
Source: YCharts
However, as stock prices near parity with the value of Bitcoin holdings, dilution occurs.
“That is not capital formation. It is erosion,” Sigel remarked.
He recommends that companies utilizing Bitcoin as a treasury asset should adopt protective measures, such as halting ATM programs and prioritizing stock buybacks while premiums are available.
Glassnode lead analyst James Check expressed similar concerns regarding the sustainability of corporate Bitcoin treasury strategies.
“My instinct is the Bitcoin treasury strategy has a far shorter lifespan than most expect,” Check posted on X in July.
Check argued that while early adopters, like MicroStrategy, which holds nearly 600,000 BTC, have established their dominance, newer treasury firms face greater challenges.
Nobody wants the 50th Treasury company.
I think we’re already close to the ‘show me’ phase, where it will be increasingly difficult for random company x to sustain a premium and get off the ground without a serious niche.
Retail speculators buy startup TCos, and they don’t have…— _Checkmate
(@_Checkmatey_) July 4, 2025
“Nobody wants the 50th treasury company,” he cautioned, emphasizing that investors increasingly seek clear differentiation rather than merely another firm adding Bitcoin to its balance sheet.
The post Japanese Nail Salon Announces $3 Billion Bitcoin Acquisition Strategy appeared first on Cryptonews.
