Tokyo Nail Salon Reinvents Itself as Major Bitcoin Holder - Defying Traditional Business Models

From manicures to mining: A Tokyo beauty salon makes the ultimate pivot.

While traditional businesses struggle with razor-thin margins, this savvy entrepreneur saw digital gold where others saw nail polish.

The Bitcoin conversion strategy

Instead of chasing fleeting beauty trends, the owner allocated 85% of business reserves into Bitcoin—transforming a local service business into a crypto-heavy asset holder virtually overnight.

Why traditional businesses are watching

The move exposes how conventional retail operations can leverage crypto reserves better than most hedge funds—while Wall Street still debates 'digital asset viability.'

Sometimes the smartest money wears gloves and works with tiny brushes.

TLDR

• Convano aims to acquire 21,000 BTC by 2027, holding 0.1% of Bitcoin’s total supply.
• The firm has raised 2% of its $3B goal and owns 365 BTC as of August 2025.
• Convano’s shares doubled after revealing its Bitcoin acquisition plan.
• Seven Japanese firms now rank among the top 100 public Bitcoin holders.

A Japanese nail salon chain is making an unexpected move into the world of cryptocurrency. Convano Inc., once known only for beauty services, now plans to reinvent itself by becoming one of the largest corporate holders of Bitcoin. With a bold goal of acquiring 21,000 BTC by 2027, the company is raising $3 billion—betting that Bitcoin can protect its reserves from a weakening yen and rising economic uncertainty.

Convano Targets 21,000 BTC Amid Weak Yen

Convano Inc. has announced plans to purchase 21,000 bitcoin by March 2027, aiming to secure 0.1% of the total BTC supply. The firm intends to raise 434 billion yen (around $3 billion) through equity and bond sales to fund the acquisition.

As of August 25, the company has raised about 2% of its target and currently holds 365 Bitcoin. Convano is following a phased approach, with plans to buy 2,000 BTC by 2025, 10,000 by 2026, and complete the goal by 2027. The average purchase price is estimated at 19.9 million yen per coin.

The decision is driven by the long-term decline of the Japanese yen, which has lost 21% of its value against the U.S. dollar over the past ten years. Rising costs in wages and raw materials have pushed Convano to look for alternative assets. “We started to think about Bitcoin because of the persistent yen depreciation and geopolitical risks,” said Director Taiyo Azuma.

Strategy Mirrors Models Used by Other Crypto-Focused Firms

Convano’s approach draws from a model popularized by MicroStrategy founder Michael Saylor. The strategy involves using investor interest to boost the company’s stock price and then converting the gains into capital to buy Bitcoin.

“We will enhance corporate value with the new plan, which will increase our stock price 10 times,” said Motokiyo Azuma, who leads Convano’s finance and crypto plans. Since the announcement, the company’s shares have more than doubled, signaling investor interest in the new direction.

Convano has already secured 4.5 billion yen through corporate bonds. Brokers Nomura Securities and SMBC Nikko Securities are expected to support the fundraising process. The company has not yet disclosed anchor investors or a full funding timeline.

Convano is one of several Japanese firms turning to Bitcoin amid low interest rates and limited returns from traditional assets like bonds. As of July 2025, seven Japan-based firms are listed among the top 100 Bitcoin-holding public companies.

Risks Include Volatility, Regulatory Pressure, and Focus Shift

Bitcoin’s price remains unstable, and critics warn that a sharp drop could reduce the value of Convano’s holdings. The plan also raises liquidity concerns, as a large portion of funds will be tied to one volatile asset.

The company’s reliance on Bitcoin could limit its ability to invest in Core operations such as salon expansion or customer technology. Some analysts question whether such a strategy fits the company’s original business model.

Japan’s Financial Services Agency is also planning tighter rules on how firms report crypto holdings. New reporting standards may increase costs and reduce flexibility for companies holding Bitcoin in large volumes.

Convano’s pivot comes at a time when other firms are testing similar strategies. Metaplanet, another Japan-based company, has already acquired around 19,000 BTC. Still, not all firms succeed with this shift. For example, crypto-focused firm Ethzilla lost more than half its value shortly after changing direction.