Japanese nail salon operator Convano has launched a Bitcoin acquisition strategy, aiming to purchase 21,000 Bitcoin, equivalent to 0.1% of the total supply. The company plans to become one of the world’s largest corporate Bitcoin holders.

Convano’s Director outlined a three-phase Bitcoin acquisition plan, targeting 2,000 BTC by 2025, 10,000 BTC by 2026, and 21,000 BTC by 2027. The move is a strategic response to macroeconomic challenges like the yen’s decline and geopolitical risks.

Of the funds raised, Convano has acquired 365 Bitcoin. The announcement has boosted the company’s stock, with shares rising 223.27% in the past month and 1,414.68% YTD. Japan has emerged as a hub for Bitcoin accumulation by publicly listed companies.

Concerns about the sustainability of crypto treasury strategies persist. While Convano welcomes Bitcoin price drops for strategic reasons, experts like VanEck’s Matthew Sigel caution that such strategies could erode shareholder value. Safeguards like pausing equity issuance are recommended for companies using Bitcoin as a treasury asset.

Glassnode’s James Check also questions the longevity of corporate Bitcoin treasury strategies, suggesting that early adopters hold an advantage over newer firms. Differentiation and clear strategy are crucial for long-term success in the Bitcoin treasury space.

Read more at Yahoo Finance: Japanese Nail Salon Announces $3 Billion Bitcoin Acquisition Strategy