Chiara Bianchi
Bakkt Holdings (BKKT) has announced plans to acquire nearly 30% of Marusho Hotta Co., Ltd. from RIZAP Group, making it the largest stakeholder in the Tokyo-listed company. As part of the agreement, Phillip Lord, President of Bakkt International, will step in as CEO, signaling a clear pivot toward the crypto treasury model.
Pending shareholder approval, Marusho Hotta will undergo a full transformation, including a name change to โbitcoin.jpโ and a revised corporate charter that officially includes investments in Bitcoin and other digital assets.
Japan Seen as Strategic Base for Bitcoin Growth
The move is aligned with Bakktโs growing focus on becoming a Bitcoin-focused treasury company. In June, Bakkt filed a plan to raise up to $1 billion to build a crypto asset portfolio, following the launch of a $75 million public offering last month. Part of the proceeds are earmarked specifically for BTC accumulation.
Despite a sharp decline in Bakktโs stock following the pricing of the $75 million raise, the company is doubling down on its strategy.
โJapanโs clear regulatory framework makes it an ideal location for a Bitcoin-centric business model,โ said Akshay Naheta, Bakktโs Co-CEO, in a Wednesday statement.
Bakkt also revealed plans to work closely with Marusho Hottaโs team to embed Bitcoin holdings into the companyโs financial and operational structures.
Shareholder Vote to Finalize Rebrand and Strategic Shift
The proposed rebranding to bitcoin.jp and the corporate mission overhaul are contingent upon approval at the next shareholder meeting. Bakkt has not disclosed the financial terms of the acquisition but stated that additional execution details will be shared as the deal progresses.
Bakktโs Bigger Picture: Crypto Treasury and Strategic Moves
This acquisition fuels further speculation around Bakktโs long-term strategy. In late 2024, reports suggested that Trump Media & Technology Group had shown interest in acquiring Bakkt, though no formal deal has been announced to date.
By establishing a firm foothold in Japan and aligning its operations with Bitcoin treasury dynamics, Bakkt is positioning itself to become a major player in the next phase of institutional crypto adoption.
