Convano Secures 700 Million Yen Profit from Bitcoin Trading

Convano (6574), operator of the nail salon 'FASTNAIL', announced on the 17th that as a result of Bitcoin (BTC) sales and repurchases carried out in October, their holdings reached 665 BTC. By selling part of their holdings during the peak price period on October 8 and buying back during the subsequent price drop, they secured a trading profit of approximately 700 million yen.

During this period, the BTC price (bitFlyer) closed at 18.83 million yen per BTC on the 8th, dropped to 16.9 million yen by the 11th, and further to 16 million yen by the 17th, marking an approximate 15% decline over the week. Convano capitalized on this price range to complete their trades, with the 700 million yen profit calculated based on an average purchase price of 1.7...