Bakkt Acquires 30% of Marusho Hotta to Form Bitcoin Treasury

Bakkt has acquired a 30% stake in Tokyo-listed yarn manufacturer Marusho Hotta and plans to rebrand it as bitcoin.jp, marking its strategic shift to a Bitcoin treasury model. The acquisition targets corporate Bitcoin treasury deployment and enhances Bakkt’s crypto custody infrastructure. Marusho Hotta shares surged over 36% following the deal announcement, reflecting strong investor interest. Previously trading below ¥60, the company’s share price demonstrated pronounced volatility. This minority stake acquisition aligns with Bakkt’s broader strategy to reposition itself as a dedicated cryptocurrency infrastructure company. In June, Bakkt announced intentions to raise up to $1 billion through securities offerings to support future Bitcoin purchases. Subsequently, it divested non-core businesses to focus resources on core crypto products. Established by ICE in 2018, Bakkt initially offered institutional Bitcoin futures and custody services but has since evolved through multiple strategic pivots driven by market demands. Bakkt’s move mirrors the broader trend of corporates adopting digital assets on their balance sheets, led by firms such as MicroStrategy. As companies worldwide, including those in Asia and Latin America, embrace Bitcoin treasury strategies, the demand for robust crypto custody platforms grows. By transforming Marusho Hotta into bitcoin.jp, Bakkt aims to enhance its market presence in Japan and beyond, supporting both spot Bitcoin holdings and future digital asset treasury solutions.