Japanese nail salon Kanwano buys $3 billion in Bitcoin

Convano Bitcoin Holdings is set to make waves in Japan’s financial landscape as the nail salon chain pivots into digital assets with a massive $3 billion bet on Bitcoin. The company confirmed plans to acquire 21,000 BTC, roughly 0.1% of global supply positioning Convano Bitcoin Holdings as one of Japan’s largest corporate crypto treasuries and signaling a dramatic shift from beauty services to bold financial innovation.

Corporate Pivot Toward Bitcoin

Convano’s market value rose significantly after the announcement, with its share price more than doubling. The company has already purchased 365 bitcoins, about 2% of its fundraising goal, further boosting the visibility of Convano Bitcoin Holdings.

The firm also intends to follow the same strategy popularized by MicroStrategy’s Michael Saylor: first raise investor interest by lifting stock prices, and then use that momentum to expand its bitcoin portfolio.

“We will increase the value of the company through our new plan, and this is expected to increase our stock price by up to tenfold,” said Motokiyo Azuma, director and head of finance and crypto strategy at Convano.

A Response to Economic Pressures

Executives said investing in Bitcoin is a rational response to macroeconomic challenges. The Japanese yen has depreciated 21% against the US dollar over the past decade, driving up wages and raw material costs.

“The continued decline of the yen and rising geopolitical risks have led us to consider Bitcoin. Bitcoin is a means of storing value for the long term.” Azuma explained.

According to filings, Convano has already raised 4.5 billion yen through corporate bonds, with Nomura Securities and SMBC Nikko Securities acting as brokers. The company plans to acquire its Bitcoin in three phases, averaging 19.9 million yen per coin. These steps reinforce the ambition behind Convano Bitcoin Holdings as a long-term financial strategy.

Japan’s Role in Bitcoin Accumulation

Japan is fast emerging as a hub for listed firms accumulating Bitcoin. Metaplanet, formerly a hotel operator—has already amassed nearly 19,000 BTC, ranking among the top 10 holders globally. In this context, Convano Bitcoin Holdings reflects a wider trend of Japanese companies repositioning themselves as crypto treasury players.

Still, the approach carries risks. Several firms that attempted similar strategies saw mixed results. Peter Thiel-backed Ethzilla, an Ethereum accumulator, lost over half its market value within days of its pivot.

“There is no room for slowness in this arena,” said Michael Bucella, co-founder of Neoclassic Capital. “You have to move big and fast.”

Outlook for Convano

Convano’s success depends not only on Bitcoin’s long-term potential but also on its ability to maintain investor confidence throughout the fundraising process. Analysts say Convano Bitcoin Holdings could serve as both a hedge against currency weakness and a gateway into global crypto markets.

If Convano’s strategy succeeds, it will join a growing list of Japanese companies transitioning from traditional industries into crypto-focused treasuries. For investors, Convano Bitcoin Holdings may become a defining case study in how corporations adapt to digital finance, underscoring that the global race for Bitcoin accumulation is far from over.