- Bakkt acquired a 30% stake in Japan’s MarushoHotta for $235M and plans to rebrand it as bitcoin.jp.
- The move shifts MHT from traditional manufacturing to a Bitcoin treasury model, with Bakkt’s Phillip Lord stepping in as CEO.
- This positions Bakkt at the center of Japan’s growing corporate Bitcoin movement, backed by a recent $75M raise.
Bakkt’s not sitting still. The digital asset firm just pulled the trigger on a $235 million deal to scoop up a 30% stake in Japan’s MarushoHotta Co., Ltd.—and they’re not stopping there. The plan? Rebrand the whole thing to bitcoin.jp. Yeah, that’s the actual new name. With this move, Bakkt’s betting big on Japan’s growing appetite for Bitcoin treasury strategies—and the market seems into it. The stock jumped 2.31%, recovering strong after an early dip, landing at $9.75.
This isn’t just a minor JV. It’s a full-on transformation play. Bakkt’s reshaping the core of MHT—from traditional manufacturing to full-on digital asset treasury management. A new name, a new CEO, a whole new purpose. They’re not playing around.
From Manufacturing to Digital Treasury—Bakkt Takes Control
Here’s how it’s going down: Bakkt’s shelling out ¥1.68B (~$235.2M USD) to buy 16.86M shares of MHT, making them the largest shareholder. They signed the deal with RIZAP Group, and it’s being funded via Bakkt Opco Holdings, LLC. Part of the shake-up includes putting Phillip Lord, Bakkt International’s president, in charge as MHT’s new CEO. That’s a big sign they’re not just investing—they’re steering the whole ship.
Assuming shareholder approval goes through, MHT will officially rebrand to bitcoin.jp, a name Bakkt already secured the domain for. It’s more than just a name—it’s a signal. The new entity will start holding BTC and other digital assets directly on the balance sheet. Just like that, a legacy firm becomes part of Japan’s rising Bitcoin treasury class.
Japan’s Bitcoin Boom Keeps Gaining Traction
Japan’s crypto scene isn’t small—it’s heating up fast. Public companies like Metaplanet, NEXON, and Anap Holdings are already stacking BTC (some with holdings as high as 17,595 BTC). MarushoHotta (soon-to-be bitcoin.jp) joins that wave, giving it a fresh edge and a whole new business model. For Bakkt, this isn’t just a geographic expansion—it’s a front-row seat to one of Asia’s most pro-crypto markets.
To help power this pivot, Bakkt recently wrapped a $75M public offering. That cash is going toward more acquisitions and scaling its crypto-first strategy. Their goal? Own the digital finance layer, both in the U.S. and abroad. And this Japan deal? It’s a clear marker of how far they’re willing to go to make that vision real.
