Japanese nail saloon wants to acquire 21,000 bitcoins
The post Japanese nail saloon wants to acquire 21,000 bitcoins appeared on BitcoinEthereumNews.com. Japanese nail salon Convano is making moves in the crypto industry, announcing its intention to become a major holder of Bitcoin. The company, which was until recently a Tokyo-listed operator of nail salons, now wants to become one of the corporations owning a large stash of the asset. Over the last few months, there have been plenty of corporations reinventing their financial landscape, with most of them pushing into the crypto industry. While the crypto market is seeing a boom, the Japanese firm has unveiled its ambitious plans. It intends to raise 434 billion yen (approximately $3 billion) to acquire 21,000 Bitcoin, which is equivalent to 0.1% of the total supply. Japanese firm wants to become a Bitcoin holder At the time of the announcement, Convano boasted a market value that was a fraction of that sum. However, since the announcement, its shares have more than doubled. In addition, its report on August 25 showed that the Japanese company has raised 2% of the needed funds and now holds about 365 Bitcoin. To make sure it actualizes its dreams, Convano is looking to adopt the same model popularized by Michael Saylor. This means that the firm will generate retail and institutional interest, lift the share price, and then convert it into capital to further its resolve concerning the purchase of Bitcoin. “We will enhance corporate value with the new plan, which will increase our stock price 10 times,” said Motokiyo Azuma, a director at Convano. Azuma is also in charge of the firm’s finance and crypto strategies. In the world of crypto, highlighting big ambitions is part of the model that has helped big companies thrive. Huge targets, even those far beyond the immediate reach of companies, have also served the function. They set expectations high, attract the needed attention,…
The post Japanese nail saloon wants to acquire 21,000 bitcoins appeared on BitcoinEthereumNews.com.
Japanese nail salon Convano is making moves in the crypto industry, announcing its intention to become a major holder of Bitcoin. The company, which was until recently a Tokyo-listed operator of nail salons, now wants to become one of the corporations owning a large stash of the asset. Over the last few months, there have been plenty of corporations reinventing their financial landscape, with most of them pushing into the crypto industry. While the crypto market is seeing a boom, the Japanese firm has unveiled its ambitious plans. It intends to raise 434 billion yen (approximately $3 billion) to acquire 21,000 Bitcoin, which is equivalent to 0.1% of the total supply. Japanese firm wants to become a Bitcoin holder At the time of the announcement, Convano boasted a market value that was a fraction of that sum. However, since the announcement, its shares have more than doubled. In addition, its report on August 25 showed that the Japanese company has raised 2% of the needed funds and now holds about 365 Bitcoin. To make sure it actualizes its dreams, Convano is looking to adopt the same model popularized by Michael Saylor. This means that the firm will generate retail and institutional interest, lift the share price, and then convert it into capital to further its resolve concerning the purchase of Bitcoin. “We will enhance corporate value with the new plan, which will increase our stock price 10 times,” said Motokiyo Azuma, a director at Convano. Azuma is also in charge of the firm’s finance and crypto strategies. In the world of crypto, highlighting big ambitions is part of the model that has helped big companies thrive. Huge targets, even those far beyond the immediate reach of companies, have also served the function. They set expectations high, attract the needed attention,…
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