Bakkt Expands Global Footprint with Strategic Move into Japan’s Bitcoin Economy
Bakkt Holdings (NYSE: BKKT) is making a significant bet on the future of Bitcoin—this time, in Japan. The digital asset platform announced it has agreed to acquire a 30% stake in Marusho Hotta Co., Ltd., a Tokyo-listed company, from RIZAP Group. If approved by shareholders, the company will undergo a bold transformation, including a name change to bitcoin.jp and a new strategic focus on Bitcoin and digital asset investment.
This move positions Bakkt as Marusho Hotta’s largest shareholder and installs Phillip Lord, President of Bakkt International, as the company’s new CEO. The pivot marks a major step in Bakkt’s broader shift toward becoming a full-fledged crypto treasury firm.
From Traditional Business to Bitcoin Treasury Vehicle
Pending shareholder approval, the newly named bitcoin.jp will add Bitcoin investments to its corporate strategy, essentially turning itself into a vehicle for holding and managing digital assets. Bakkt says it plans to collaborate closely with the Marusho Hotta team to incorporate Bitcoin into both operational and financial planning.
“The regulatory landscape in Japan provides an ideal foundation for a Bitcoin-centered growth business,” said Akshay Naheta, co-CEO of Bakkt, in a statement on Wednesday.
He called the deal the launchpad for Bakkt’s wider crypto treasury initiative.
A Larger Treasury Strategy in Motion
This acquisition isn’t a standalone move—it’s part of a bigger shift. In recent months, Bakkt has been repositioning itself to ride the wave of Bitcoin as a corporate treasury asset. The company filed plans in June to raise up to $1 billion in support of this transition. More recently, it completed a $75 million public offering, with part of the funds earmarked for purchasing Bitcoin.
While the offering sparked a dip in Bakkt’s stock price, the firm is doubling down on its long-term conviction: that digital assets, especially Bitcoin, can play a meaningful role on corporate balance sheets—not just in the U.S., but globally.
What's Next for bitcoin.jp?
Details on how the transition will unfold are still limited. Bakkt noted that further updates will follow as the deal progresses. The proposed name change and new corporate focus must pass a shareholder vote at Marusho Hotta, expected in the coming weeks.
This isn’t the first time Bakkt has been in the headlines for strategic shifts. In late 2024, reports surfaced that Trump Media & Technology Group was exploring a possible acquisition of the company, though no agreement has materialized.
