Bakkt is making a bold move into the Japanese market! 🇯🇵
The company is acquiring a 30% stake in Marusho Hotta Co., Ltd. (MHT), making it the biggest stakeholder. With Bakkt International President, Phillip Lord, taking over as CEO, MHT is set to rebrand as "Bitcoin JP" pending shareholder approval and will begin using Bitcoin and other digital assets for its treasury management.
According to Bakkt's co-CEO, Japan's regulatory framework is ideal for a Bitcoin-focused business strategy. This acquisition aligns with Bakkt's broader plan to expand its Bitcoin holdings, supported by a recent announcement to raise up to $1 billion in securities offerings.
While Bakkt's stock ($BKKT) has been volatile, this strategic play shows a strong commitment to expanding its presence in the global crypto landscape.
