Bitcoin News Today: Bakkt Acquires 30% of Marusho Hotta to Launch Bitcoin.jp and Expand Global Bitcoin Treasury Strategy

Bakkt Holdings (ticker: BKKT) has agreed to acquire approximately 30% of Marusho Hotta Co., Ltd., a Tokyo-listed company, from the RIZAP Group. The transaction will make Bakkt the largest shareholder of Marusho Hotta and install Phillip Lord, president of Bakkt International, as the company’s CEO [1]. As part of the deal, Marusho Hotta is expected to be renamed “bitcoin.jp” and repositioned as a firm with a corporate policy centered around investments in bitcoin and other digital assets, subject to shareholder approval [2].

The move is a significant step in Bakkt’s strategic shift toward becoming a major player in the global crypto treasury space. This acquisition marks Bakkt’s first major expansion into Japan and is positioned as a cornerstone of its multinational Bitcoin treasury strategy. The company has previously announced plans to raise up to $1 billion to fund its treasury initiatives, with a $75 million public offering already underway [3]. However, Bakkt’s stock saw a decline following the pricing of that offering, as reported by The Block [1].

Akshay Naheta, co-CEO of Bakkt, highlighted Japan’s favorable regulatory environment as a key factor in the decision, calling it an “ideal platform for a Bitcoin-centered growth business.” He also noted that the company intends to integrate Bitcoin into the operational and financial planning of the newly rebranded entity [2]. Bakkt emphasized that additional details will be provided once the transaction progresses, though the exact terms of the deal remain undisclosed [1].

This acquisition reflects a broader trend in the crypto industry, where corporations and institutional investors are increasingly allocating Bitcoin into their treasuries as a store of value and a hedge against macroeconomic risks. By leveraging Marusho Hotta’s existing infrastructure and Japan’s more advanced regulatory framework, Bakkt aims to strengthen its presence in the institutional Bitcoin market and offer scalable digital asset management solutions [4].

The deal also aligns with Bakkt’s long-term vision to provide institutional-grade custody and treasury services for digital assets. The company has previously faced challenges in the crypto space, but this strategic repositioning signals its intent to build credibility and expand its global footprint. The rebranding and restructuring of Marusho Hotta are expected to reinforce this effort [5].

As cross-border collaboration in the crypto space grows, this acquisition underscores the increasing integration of traditional financial markets with the digital asset ecosystem. The move by an NYSE-listed firm to invest in a Japanese company highlights the global nature of Bitcoin adoption and the potential for multinational digital treasury strategies to reshape financial infrastructure in the future [6].

Sources:

[1] Bakkt to buy 30% of Japan's Marusho Hotta, rename it 'bitcoin.jp' in multinational BTC treasury push (https://www.theblock.co/post/365807/bakkt-japans-marusho-hotta-bitcoin-treasury)

[2] Bakkt Holdings to Acquire Shares of Japanese Company Marusho Hotta; Company to be Renamed bitcoin.jp; Transaction Expected to Kick Off Bakkt’s Multinational Bitcoin Treasury Strategy (https://www.businesswire.com/newsroom/subject/merger-acquisition)

[3] Bakkt to buy 30% of Japan's Marusho Hotta, rename it 'bitcoin.jp' in multinational BTC treasury push (https://x.com/TheBlock__/status/1953110451622903996)

[4] Bakkt to buy 30% of Japan's Marusho Hotta, rename it 'bitcoin.jp' in multinational BTC treasury push (https://www.coingecko.com/en/coins/seka)

[5] Newsroom (https://www.businesswire.com/newsroom?industry=1778661)

[6] Bakkt to buy 30% of Japan's Marusho Hotta, rename it 'bitcoin.jp' in multinational BTC treasury push (https://www.coingecko.com/en/coins/pathos)