In a bold move to advance its global Bitcoin strategy, Bakkt Holdings, Inc. (NYSE: BKKT) has entered into a share purchase agreement to acquire approximately 30% of Tokyo-listed Marusho Hotta Co., Ltd. (TSE: 8105). This acquisition makes Bakkt the largest shareholder in the company and paves the way for a major rebranding and strategic pivot toward Bitcoin-focused operations in Japan.
From Marusho Hotta to bitcoin.jp
Following shareholder approval, Marusho Hotta will officially be renamed bitcoin.jp, reflecting its new direction. Bakkt has already secured the domain www.bitcoin.jp, underscoring its long-term commitment to building a Bitcoin-centered business in Japan.
Bitcoin Treasury Integration
As part of the strategic shift, the company will begin integrating Bitcoin and other digital assets into its treasury operations, positioning itself as one of the first publicly traded firms in Japan to adopt crypto assets as part of its financial model.
Leadership Change Signals New Era
Phillip Lord, currently President of Bakkt International, will step in as the new CEO of Marusho Hotta (future bitcoin.jp). Under his leadership, the company is expected to embrace a digital asset strategy that aligns with Bakkt’s broader global vision.
Why Japan?
“Japan’s clear and progressive regulatory environment creates the perfect launchpad for a Bitcoin-driven business model,” said Akshay Naheta, Co-CEO of Bakkt. “We’re excited to work closely with the MHT team to evolve the company into a Bitcoin treasury leader.”
About Bakkt
Founded in 2018, Bakkt is a U.S.-based company that provides institutional-grade infrastructure for the crypto economy. From trading solutions to onramp technology, Bakkt supports long-term, sustainable engagement with digital assets.
Sources:
- BaBakkt Holdings to Acquire Shares of Japanese Company Marusho Hotta; Company to be Renamed bitcoin.jp; Transaction Expected to Kick O Bakkt’s Multinational Bitcoin Treasury Strategy (PDF)
- Bitcoin Bakkt kauft sich in Japan ein: Aus einem Textilunternehmen wird bald „bitcoin.jp“
- NASDAQ: Bakkt To Acquire Approx. 30% Of Shares Of Marusho Hotta