Bakkt Acquires 30% Stake in Japan’s Marusho Hotta, Rebrands It as Bitcoin.JP
Bakkt, the digital asset custody and trading platform, is taking a bold step toward becoming a full-fledged crypto treasury company, with the acquisition of a 30% stake in Marusho Hotta, a Japan-based yarn manufacturer listed on the Tokyo Stock Exchange.
From Yarn to Bitcoin
As part of the deal, Marusho Hotta (Ticker: 8105) will be rebranded as bitcoin.jp, marking a significant shift from traditional textiles to Bitcoin-backed financial infrastructure. The company, once considered a penny stock with shares rarely exceeding 60 yen (~$0.41), saw its stock price surge over 36% following the acquisition announcement.
Bakkt’s move indicates a clear pivot to international expansion, particularly in Asia, and underscores its growing focus on building Bitcoin-focused financial infrastructure globally.
Bakkt’s Strategic Pivot
This acquisition aligns with Bakkt’s recent transformation strategy. In June 2025, the company revealed plans to raise up to $1 billion through securities offerings — a move widely seen as an effort to fund Bitcoin acquisitions and crypto-native initiatives.
Shortly thereafter, Bakkt announced it had sold its loyalty rewards business, redirecting all operations toward core crypto services. According to co-CEO Andy Main, the goal is to become a “dedicated crypto firm” offering streamlined services to institutions and retail participants alike.
Bakkt was founded in 2018 by the Intercontinental Exchange (ICE) to help institutions access and custody digital assets, including regulated Bitcoin futures. Over the years, it has undergone multiple strategic pivots, many driven by shifting market conditions and financial pressures.
Corporate Treasury Shift Toward Bitcoin — and Beyond
Bakkt joins a growing number of companies adopting crypto treasury models — a trend that started with MicroStrategy (now renamed Strategy) in 2020. These companies hold digital assets, mainly Bitcoin, on their balance sheets as a hedge and long-term store of value.
According to Bitbo, public companies now hold over 932,000 BTC, representing approximately 4.4% of Bitcoin’s total circulating supply, with private firms adding another 426,000 BTC to the total.
While Bitcoin remains the leading asset in corporate treasuries, companies are beginning to diversify into altcoins such as Ether (ETH), Solana (SOL), and XRP, driven by the maturing DeFi ecosystem and expanding real-world use cases.
“Even traditional sectors like agriculture, consumer goods, and textiles are beginning to hold digital assets,” noted a recent Cointelegraph report.
