Japanese Nail Salon Plans to Acquire 21,000 BTC Amid Market Shift

Japanese nail salon Convano has announced its bold pivot into the crypto space, with plans to raise 434 billion yen (~$3 billion) to acquire 21,000 Bitcoin, which would make up 0.1% of Bitcoin’s total supply. This move marks a significant departure from its traditional beauty service roots, aiming to join the ranks of corporate Bitcoin giants.

Despite having a market cap far smaller than the targeted fund, Convano has already raised 2% of the capital and currently holds 365 BTC. The company plans to use a strategy similar to Michael Saylor’s model, where it attracts both retail and institutional investors, boosts share prices, and converts them into capital for Bitcoin acquisition.

Company director Motokiyo Azuma believes this shift will increase Convano’s stock price tenfold, offering a rational hedge against the yen's decline, which has lost 21% of its value in a decade. The plan also addresses geopolitical instability and rising operational costs.

Japan is quickly becoming a key region for corporate Bitcoin accumulation, with firms like Metaplanet already holding nearly 19,000 BTC. However, the strategy carries risks, as not all pivots to crypto assets have succeeded. For Convano, maintaining investor trust and executing swiftly will be vital to achieving its vision.