Bakkt Holdings, Inc. (NYSE: BKKT) saw a surge in trading activity following a major acquisition deal in Japan. The stock climbed 2.31% intraday, touching $9.75 after a sharp early dip and a strong recovery.
Bakkt Holdings, Inc. (NYSE: BKKT)
The rally followed news of a $235.2 million agreement that will see Bakkt acquire 30% of Tokyo-listed MarushoHotta Co., Ltd.
The transaction includes a plan to rebrand MarushoHotta to bitcoin.jp, reflecting a full transition toward a digital asset strategy. This shift will be accompanied by a leadership change and a structural overhaul of the company’s treasury operations. The market responded positively, signaling confidence in Bakkt’s bold international expansion.
This move marks a strategic shift for Bakkt as it targets regulated global markets with rising digital asset integration trends. Japan’s supportive regulatory environment played a key role in shaping the direction of this acquisition. By aligning itself with MHT, Bakkt positions itself as a lead force in crypto-centered corporate finance.
Bakkt signed a share purchase agreement with RIZAP Group, Inc. to acquire 16,864,650 shares of MarushoHotta Co., Ltd. The purchase amounts to CNY 1.68 billion, roughly $235.2 million in cash, paid by Bakkt Opco Holdings, LLC. With this acquisition, Bakkt becomes the largest shareholder in the Tokyo-listed company.
JUST IN: 🇺🇸 Bakkt to buy 30% of Japan’s Marusho Hotta, rebrand it as https://t.co/m2zVQ2v33d 🇯🇵
Part of a $1B multinational plan to adopt Bitcoin as a corporate treasury asset. 🚀 pic.twitter.com/XmLhg7yeSb
— Bitcoin Archive (@BTC_Archive) August 6, 2025
The deal also installs Phillip Lord, President of Bakkt International, as Chief Executive Officer of MarushoHotta. This leadership change underscores Bakkt’s intent to integrate its vision directly into MHT’s operational model. The company aims to transform MHT’s core functions, steering it away from traditional manufacturing.
Subject to shareholder approval, MarushoHotta will be renamed bitcoin.jp, reflecting its pivot to a Bitcoin-centered treasury model. Bakkt has also acquired the domain www.bitcoin.jp in preparation for the rebrand. The new name will align with the company’s future role as a digital asset treasury entity.
Bitcoin.jp will shift its balance sheet strategy to include Bitcoin and other digital assets. This mirrors a growing trend among Japanese firms building treasury portfolios around digital currencies. MarushoHotta’s transition adds a traditional manufacturer to the list of companies adopting this model.
Japan currently hosts several public companies holding Bitcoin, including Metaplanet Inc., NEXON Co., Ltd., and Anap Holdings. These firms hold between 80 and 17,595 BTC, signaling strong domestic momentum for crypto reserves. Bakkt’s entry further solidifies this trend and adds global visibility to Japan’s crypto ecosystem.
Bakkt completed a $75 million public offering the previous week to fund acquisitions and support its Bitcoin-based strategy. The offering’s proceeds will help the company scale operations and acquire more digital assets. This financial move highlights Bakkt’s long-term focus on expanding its crypto infrastructure globally.
The post Bakkt Holdings, Inc. (BKKT) Stock: Gains Momentum After $235M Deal to Transform MHT into bitcoin.jp appeared first on CoinCentral.
