TLDR:
- Bakkt bought 30% of Marusho Hotta, gaining control and naming rights to bitcoin.jp.
- Marusho Hotta will rebrand and begin holding Bitcoin as part of its corporate treasury.
- Phillip Lord, Bakkt’s president, will take over as CEO of the Japan-based firm.
- The strategy blends M&A, rebranding, and BTC adoption to shift how public firms hold assets.
Bakkt is making its next move, and it starts in Tokyo. The crypto platform has recently struck a deal that puts it at the heart of Japan’s Bitcoin scene. It’s not launching an exchange or rolling out a wallet.
Instead, Bakkt wants to turn a traditional company into a digital asset treasury hub. And this deal is how it begins.
Bakkt Becomes Lead Shareholder in Marusho Hotta
According to a press release, Bakkt has agreed to buy 30% of Marusho Hotta Co., a listed company on the Tokyo Stock Exchange.
The seller, RIZAP Group, will pass on enough shares to make Bakkt the largest single shareholder. That stake gives Bakkt a strategic seat at the table and one that it plans to use fast.
Bakkt International’s President, Phillip Lord, will take over as CEO of Marusho Hotta. With that, the company’s financial playbook will begin to change. The new plan? Turn MHT into a Bitcoin-focused treasury vehicle.
Bakkt didn’t just buy shares; it also bought a name. The domain bitcoin.jp now belongs to the firm and is expected to replace the old brand. That rebranding, however, still needs shareholder approval to go through.
The name isn’t just a facelift. It signals where Bakkt is heading. The company wants MHT to become a core part of its multinational Bitcoin treasury strategy, starting with Japan’s regulated environment.
In a statement, Bakkt’s co-CEO Akshay Naheta said the move takes advantage of Japan’s friendly crypto laws. He emphasized that Japan offers “an ideal platform” for building a Bitcoin-centered business.
Bitcoin in the Balance Sheet
The shift in strategy means one thing: Marusho Hotta’s books could soon hold Bitcoin. The company will begin allocating some of its treasury into Bitcoin and possibly other digital assets. That’s not a small step for a public company in Japan.
Bakkt appears to be testing a new model, buy into traditional firms, then reshape their financial structure to include digital assets. It’s a different approach from launching spot ETFs or offering custodial tools. Instead, it blends ownership, operations, and on-chain integration.
And with the global hunt for yield and asset protection continuing, a Bitcoin-native treasury strategy could draw fresh interest.
This isn’t Bakkt’s first pivot, but it may be its boldest yet. From its earlier focus on derivatives to its push into crypto payments, the firm has kept shifting gears. Now, it’s placing Bitcoin directly onto corporate balance sheets, starting with Japan.
If this experiment with Marusho Hotta works, it may not stop there. Other acquisitions could follow. Other firms could be restructured. And more corporate treasuries might soon start holding crypto, not just cash.
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Source: https://blockonomi.com/bakkt-buys-into-japan-to-launch-global-bitcoin-treasury-push/