Key Takeaways
- Bakkt has purchased 30% of Japanese firm Marusho Hotta and will rebrand to Bitcoin JP.
- The firm will pursue establishing itself as a leading Bitcoin treasury firm.
- Several Japanese companies are among the top 100 corporate BTC holders.
Struggling digital asset management and investment firm Bakkt continues to reposition itself in the Web3 market as a crypto infrastructure company with the acquisition of a Japanese clothing and jewelry business, which it will now convert into a Bitcoin (BTC) treasury firm.
The Acquisition
As per a press release, Bakkt has agreed to purchase roughly 30% of the outstanding shares of Japanese firm Marusho Hotta.
As part of the deal, Bakkt International President Phillip Lord will become the CEO of the clothing and accessory firm.
With the purchase of the Bitcoin.jp web domain, Bakkt is planning to rebrand the firm, pending approval from shareholders, and begin working towards its new Bitcoin-centered mission.
The news has sparked some confidence in Bakkt’s stock, BKKT, which has risen a couple of percentage points following the announcement.
BKKT has experienced considerable volatility over the past year. Notably, the firm’s stock fell by over 50% at the end of July.
The firm is scheduled for its Q2 20205 earnings call on Monday, August 11, 2025.
Investors now appear confident in Marusho Hotta’s future, which has relished a 201% gain in its stock price since Aug. 4.
The Bitcoin Way
Bakkt joins an ever-growing list of publicly listed firms around the world that are now pivoting toward becoming Bitcoin/crypto treasury companies.
The success of Michael Saylor’s Strategy (formerly MicroStrategy) has inspired many, such as Japan’s Metaplanet, to take the plunge and go all-in on BTC — which so far has yielded incredible gains for the firm.
Notably, Japan is experiencing a significant uptick in this novel approach and now has several firms ranked amongst the top 100 Bitcoin treasury firms in the world.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
