Convano plans 21,000 Bitcoin holdings and Yen-pegged stablecoin launch
Tokyo-based nail salon chain Convano Inc. has announced plans to accumulate 21,000 BTC—equivalent to 0.1% of Bitcoin’s total supply—and to launch a stablecoin pegged to the Japanese yen.
According to Convano’s latest report, the company currently holds 365 BTC, a small portion of its ambitious target. However, within just a month of announcing its Bitcoin strategy, Convano’s stock price on the Tokyo Stock Exchange surged 221%.
Hourly chart of Convano stock. Source: TradingView
The company openly admits that this bold target is meant to attract investor interest in its shares, strategically converting both retail and institutional attention into capital for future Bitcoin purchases.
“We will raise corporate value with a new plan designed to increase our stock price tenfold,” said Motokiyo Azuma, Convano’s executive director overseeing finance and crypto strategy.
Rational interest in Bitcoin
Convano described its pivot toward crypto as a rational response to macroeconomic pressures. The yen has been in a prolonged decline, weakening 21% against the U.S. dollar over the past decade, which has driven up labor and raw material costs for its consumer services business.
“We started considering Bitcoin due to the persistent depreciation of the yen and geopolitical risks,” Azuma explained.
Convano’s latest initiative includes plans to develop a yen-pegged stablecoin. Although current regulations allow only banks and financial institutions to issue stablecoins, Convano plans to partner with FINX JCrypto exchange to create a fully backed 1:1 redemption system using Japanese government bonds as reserve assets.
The company’s long-term goal is to obtain a stablecoin license by December 2027.
As we wrote, Bitcoin price prediction: Bitcoin correction continues until 112K level is breached
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