Japanese nail salon operator Convano, listed on the Tokyo Stock Exchange, plans to raise approximately 434 billion yen (around $3 billion) to bolster its Bitcoin treasury reserves. The company aims to acquire 21,000 Bitcoins, representing 0.1% of the total Bitcoin supply, positioning itself as one of the largest Bitcoin holders globally.
Convano's acquisition strategy involves purchasing Bitcoin in three phases. The company intends to hold 2,000 Bitcoins by the end of 2025, increase to 10,000 Bitcoins by August 2026, and reach its target of 21,000 Bitcoins by March 2027. This move underscores Convano's commitment to integrating cryptocurrency into its financial strategy.
Convano to Raise $3 Billion for Bitcoin Treasury Expansion
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