In a bold strategic pivot, crypto platform Bakkt is set to transform Tokyo-listed company Marusho Hotta into a Bitcoin-centric investment entity, following a newly announced acquisition deal.
On August 6, Bakkt Holdings revealed it would acquire a 30% stake in Marusho Hotta from Japanese wellness conglomerate RIZAP Group, positioning itself as the firm’s largest shareholder. As part of the overhaul, Bakkt will rename the company bitcoin.jp and install its own leadership, with Bakkt International President Phillip Lord stepping in as CEO.
JUST IN: Bakkt Holdings Inc. (NYSE: BKKT) acquires 30% of ???????? publicly listed Kimono maker Marusho Hotta (8105 JP).
Bakkt plan to rename MarushoHotta to https://t.co/Kp466CbPSA and pivot to a BTC treasury strategy. ???? pic.twitter.com/OYeSk5lMXF
— Roxom TV (@RoxomTV) August 6, 2025
The rebranding and executive reshuffle are subject to shareholder approval but mark a significant shift in direction for the little-known Japanese firm. The move also signals Bakkt’s intent to position bitcoin.jp as a corporate leader in Bitcoin treasury strategy, integrating digital assets into both operations and financial reserves. The firm has already secured the bitcoin.jp domain, reinforcing its vision for the rebranded company.
“Japan’s regulatory environment creates an ideal platform for a Bitcoin-centered growth business,” said Akshay Naheta, co-CEO of Bakkt. “We look forward to working with MHT’s team to integrate Bitcoin into their operating and financial model and to establish MHT as a leading Bitcoin treasury company.”
The acquisition is Bakkt’s latest—and arguably most daring—move to re-establish itself in the digital asset space. Once backed by Intercontinental Exchange and heralded as a bridge between traditional finance and crypto, Bakkt has faced mounting challenges. In early 2024, the company acknowledged severe financial pressure, warning in an SEC filing that it may not remain a going concern without new funding.
In response, Bakkt has shed peripheral business lines, including its loyalty rewards division, to refocus entirely on digital assets. Recent capital-raising efforts—$75 million in equity in July and a $1 billion shelf offering—highlight its urgent bid to reinvent itself as a Bitcoin-native enterprise.
The shift toward Japan comes after reported but ultimately unsuccessful acquisition talks with Trump Media & Technology Group in late 2024. While that deal fell through, the speculation emphasized Bakkt’s struggle to regain momentum.
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