As of Aug 25, however, it has raised just 2% of the required funds and holds a modest 365 Bitcoin. To make good on its gambit, Convano is following a model popularized by Michael Saylor’s Strategy: generate retail and institutional interest, lift the share price, then convert that momentum into capital for further Bitcoin purchases.
Convano Inc was, until recently, a sleepy Tokyo-listed operator of nail salons. Now it wants to become one of the world’s largest corporate holders of Bitcoin — the latest in a wave of radical financial reinventions pulling the likes of biotech firms and regional banks into crypto’s orbit.
Even as signs mount that the digital-asset treasury boom is losing steam, Convano has unveiled a highly ambitious plan: raise about ¥434 billion (US$3 billion) and acquire 21,000 Bitcoin — equivalent to 0.1% of the total supply. At the time of announcement, its market value was a fraction of that sum. Its shares have since more than doubled.
