Bakkt Acquires 30% of Marusho Hotta, Renames to bitcoin.jp

Bakkt Holdings is acquiring approximately 30% of MarushoHotta Co., Ltd., a Tokyo-listed company, making Bakkt the largest shareholder. The acquisition is expected to kick off Bakkt's multinational bitcoin treasury strategy. Bakkt International's President, Phillip Lord, will become CEO of MarushoHotta, which will include investing in Bitcoin and other digital assets. Bakkt has acquired the web domain www.bitcoin.jp.

Bakkt Holdings (NYSE:BKKT), a cryptocurrency infrastructure firm, has announced a significant acquisition that could reshape its strategy in the global Bitcoin market. The company has entered into a share purchase agreement with RIZAP Group to acquire approximately 30% of the outstanding shares of MarushoHotta Co., Ltd., a Tokyo-listed company. This move positions Bakkt as the largest shareholder of MarushoHotta and sets the stage for a multinational Bitcoin treasury strategy [1].

Under the terms of the agreement, Phillip Lord, President of Bakkt International, will become the Chief Executive Officer of MarushoHotta. The new CEO will oversee the integration of Bitcoin and other digital assets into the company's treasury, a strategic shift that aligns with Bakkt's long-term vision [2].

The acquisition also includes the rebranding of MarushoHotta as "bitcoin.jp," reflecting Bakkt's commitment to the digital asset space. The web domain www.bitcoin.jp has been acquired to support this rebranding effort [3]. The name change and the integration of Bitcoin into the corporate treasury will require shareholder approval, and further details on the execution of the transaction will be provided as it progresses.

Bakkt's move into a Bitcoin-focused treasury strategy is part of a broader corporate initiative. The company registered a multi-security shelf offering to sell up to $1 billion of securities in June 2025 and subsequently raised $75 million through a public equity offering in July. These funds are earmarked for the company's Bitcoin strategy, despite a recent decline in Bakkt's stock price following the announcement of the funding [2].

Akshay Naheta, co-CEO of Bakkt, highlighted the potential of Japan's regulatory environment for a Bitcoin-centric business. "We look forward to partnering with MHT to develop a premier Bitcoin treasury firm," Naheta said, emphasizing the strategic importance of this acquisition [2].

The deal terms were not immediately disclosed, but Bakkt has expressed confidence in the potential of this partnership to drive growth and innovation in the Bitcoin market. As the transaction progresses, more details are expected to be revealed, including the specific terms of the acquisition and the timeline for shareholder approval.

References:
[1] https://seekingalpha.com/news/4479819-bakkt-holdings-to-acquire-shares-of-japanese-company-marusho-hotta
[2] https://www.theblock.co/post/365807/bakkt-japans-marusho-hotta-bitcoin-treasury
[3] https://www.cryptotimes.io/2025/08/07/bakkt-to-rebrand-japanese-firm-marusho-hotta-as-bitcoin-jp/