🇯🇵 Bakkt Acquires 30% Stake in Marusho Hotta — Rebrands as ‘Bitcoin JP’ in Strategic Japan Expansion
Bakkt Holdings BKKT a leading crypto services firm has announced plans to acquire a 30% stake in Marusho Hotta Co. Ltd. MHT a company listed on the Tokyo Stock Exchange. This move comes through a share purchase agreement with the metallurgical focused RIZAP Group making Bakkt the largest stakeholder in MHT.
🏦 Bitcoin in Treasury Management
Under this new partnership Phillip Lord President of Bakkt International will take over as CEO of MHT. The company plans to integrate $BTC and other digital assets into its treasury management strategies, reflecting a bold step toward on chain financial infrastructure.
🗣️ Bakkt’s Strategic Vision
Akshay Naheta, co CEO of Bakkt, emphasized that Japan’s regulatory environment is highly supportive of Bitcoin centric business models. He expressed Bakkt’s commitment to collaborate with MHT’s team in embedding Bitcoin into both operations and financial systems.
“Japan offers a robust regulatory framework for Bitcoin-focused businesses. We’re excited to work alongside MHT’s leadership to build a strong Bitcoin treasury operation.”
📉 BKKT Stock Performance and Future Outlook
While this acquisition aligns with Bakkt’s long-term Bitcoin strategy, the company continues to face market challenges. BKKT recently disclosed plans to raise up to $1 billion via securities offerings a move echoed by other public firms aiming to boost their Bitcoin reserves.
Notably:
Underwriters have been granted a 30 day option to purchase an additional 15% in Class A stock and pre funded warrants.
Despite these ambitions, BKKT shares plunged 30% in March 2025 after major clients, including Bank of America decided not to renew contracts.
The stock closed at $9.77, a 2.5% gain for the day, but remains 70% below its 2025 high of $31.
Compared to its all time high of $1,271 in November 2021, the current price reflects a steep decline signaling the challenges Bakkt has faced over the years.
