Bakkt Holdings Inc. (NYSE: BKKT) announced Wednesday it will acquire roughly 30% of Tokyo-listed Marusho Hotta Co., Ltd. (TSE: 8105), becoming the company’s largest shareholder and advancing its multinational bitcoin treasury strategy.
Expansion into Japan
The share purchase agreement with RIZAP Group Inc. positions Bakkt to influence MHT’s direction, with Phillip Lord, president of Bakkt International, set to become MHT’s chief executive officer. The deal includes plans for MHT to integrate bitcoin (BTC) and other digital assets into its treasury holdings, aligning with Bakkt’s expanded focus on crypto infrastructure.
Acquisition of bitcoin.jp Domain
As part of the transaction, Bakkt has acquired the web domain www.bitcoin.jp, which is expected to become MHT’s new name pending shareholder approval. According to the announcement, the rebranding would mark a significant shift in MHT’s corporate identity toward a bitcoin-centered model.
Akshay Naheta, Bakkt’s co-CEO, said Japan’s regulatory climate offers a strong foundation for such an initiative. “Japan’s regulatory environment creates an ideal platform for a bitcoin-centered growth business,” Naheta said. “We look forward to working with MHT’s team to integrate bitcoin into their operating and financial model and to establish MHT as a leading bitcoin treasury company.”
Strategic Significance
The acquisition comes less than two weeks after Bakkt revealed a $75 million public offering to fund bitcoin purchases and expand its digital asset operations. The latest move signals the company’s intention to build an international network of bitcoin treasury entities, beginning in Japan. By leveraging Japan's clear regulatory framework and MHT's existing listing status, Bakkt aims to create a template for other bitcoin treasury companies globally. The deal also highlights the growing trend of traditional companies adopting bitcoin as a corporate treasury asset, following the lead of MicroStrategy and others.