Japanese Company CONVANO Buys 21,000 Bitcoins Worth $2.4 Billion

Following in the footsteps of Metaplanet

ENVANO Inc., a Tokyo T-listed company known for its chain of nail salons in Japan, is making headlines for its entry into the cryptocurrency space. CONVANO has evolved from a traditional company to a strategic investor in the digital asset industry under the leadership of Taiyo Azuma, Director of Bitcoin Strategy Office. Institutions are increasingly looking at Bitcoin (BTC), the world’s largest cryptocurrency, as a long-term investment and reserve asset.

The event began with an unofficial social media announcement on August 4, 2025, which showed that CONVANO had quickly purchased 21,000 BTC at an average price of approximately $114,285/BTC based on recent market prices. The transaction was conducted through over-the-counter (OTC) channels and is likely related to previous fundraising rounds, such as 2 billion yen ($13.54 million) in August 2002 and 1.5 billion yen ($10.1 million) in late July 2002. Since July 2024, CONVANO has initiated a Bitcoin accumulation strategy by establishing the Bitcoin Strategy Office and purchasing 79.92 BTC for 1 billion yen, bringing its total holdings to 164.93 BTC recently.

To accelerate its plans, CONVANO has capitalized on the growth of BTC, which has increased by more than thirty percent in the past three months. The company has set a target of reaching 21,000 BTC by March 2027, representing about 0.1% of the total BTC supply. The latest transaction is said to be the result of a partnership with major financial partners, possibly investment funds or exchanges in Japan, where cryptocurrency laws have been relaxed to encourage innovation. CONVANO shares have increased by 13.47% in the past 24 hours and 99% for the month, reflecting the excitement from the market, although the company has yet to make an official announcement.

Ambitions of Japanese companies

CONVANO has entered the list of top Bitcoin listed companies with the purchase of 21,000 BTC worth $2.4 billion; it is on par with Metaplanet (17,132 BTC) and second only to Michael Saylor’s Strategy (over 628,000 BTC). This has increased CONVANO’s net asset value and solidified the company’s position as a new investor with the potential to attract institutional investors. This massive accumulation of Bitcoin could reduce the circulating supply, supporting the Bitcoin price to stay above $114,000. This is especially true as Japan, which has seven companies in the top 100 Bitcoin holdings, is leading the institutionalization of cryptocurrencies.

For CONVANO, owning 21,000 BTC not only gives them the opportunity to profit if the price of BTC continues to rise, which some predict could reach $130,000 by the end of 2025, but also provides diversification into the nail industry, where economic changes have allowed the company to earn 5-10% annual returns from staking or lending BTC on decentralized finance platforms. This will strengthen its competitive position against other Japanese companies like Metaplanet.

Conclude

The deal reduces the circulating supply of BTC, leading to upward price pressure if demand continues to increase. The participation of CONVANO, with a daily BTC trading volume of $34 billion, could encourage other companies in Japan, such as retail chains or manufacturers, to join in the accumulation and promote institutionalization. This also strengthens Japan's position as a global Bitcoin hub, competing with the US and Canada, where companies like Strategy and Hut 8 are at the forefront.

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