Bakkt buys 30% stake in Japan’s Marusho Hotta, rebrands as bitcoin.jp for Bitcoin treasury.

Bakkt expands into Japan, capitalizing on favorable regulations for Bitcoin growth.

Marusho Hotta’s stock rises 36% after the acquisition, reflecting positive market reaction.

Bakkt Holdings has purchased 30% of the shares of Marusho Hotta Co., Ltd., a Tokyo-listed company that specializes in the production of specialty yarns. Under the agreement, Bakkt will become the largest shareholder of Marusho Hotta, which will soon be rebranded to “bitcoin.jp”. 

According to the press release, Phillip Lord, the President of Bakkt International, will be the new CEO of Marusho Hotta. This management shift will lead the company’s rebranding from its current focus towards a Bitcoin-based business strategy.

Notably, Bakkt has operations in Japan, other parts of Asia, and Latin America. Having rebranded Marusho Hotta as “bitcoin.jp”, Bakkt will incorporate Bitcoin into the company’s treasury management strategy, which will act as a foundation for future expansion within the regions.

Japan’s Crypto Regulations Back Bakkt’s Bitcoin Expansion

The company’s acquisition of Marusho Hotta is also part of its strategy for venturing into international markets, especially in Japan. Co-CEO Akshay Naheta believes that the regulatory environment in Japan is conducive to developing a Bitcoin-focused business. 

The co-CEO noted, “We look forward to working with MHT’s team to integrate Bitcoin into their operating and financial model and to establish MHT as a leading Bitcoin treasury company.” As part of its financial and operational framework, the firm will focus on investing in bitcoin and other digital assets. 

Moreover, the deal follows Bakkt’s recent decision to reorient itself as a dedicated crypto infrastructure company. The company also closed a $75 million public offering, the proceeds of which were to be used to purchase Bitcoin.

In addition, in June, the company filed a proposal to raise up to $1 billion to expand its crypto asset treasury strategy, further solidifying its status in the global market to support the crypto infrastructure.

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Marusho Hotta Stock Rises After Acquisition Deal

Following the announcement of the acquisition, Marusho Hotta’s stock trading on the Tokyo Stock Exchange rose by more than 36%. This positive stock price reflects an optimistic sentiment about the deal. It is also a pivotal change for Bakkt, which has moved from its initial focus on loyalty programs and reoriented itself toward becoming a dedicated crypto infrastructure firm.

Furthermore, this adds to the growing interest in Bitcoin in corporate treasury strategies by companies, while some organizations are diversifying their investments to include other cryptocurrencies like Ethereum (ETH), Solana (SOL), and XRP.

Hundreds of public companies now hold Bitcoin on their balance sheets, including crypto-native firms like miners, treasury companies, and traditional businesses diversifying their treasury strategies with Bitcoin.

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Filed under: Bitcoin - @ August 7, 2025 9:30 am