Bakkt Targets Japan’s Marusho Hotta with 30% Acquisition — A Strategic Push into Bitcoin Treasury
TradingKey – On Wednesday, August 6, U.S.-based crypto platform Bakkt Holdings (NYSE: BKKT) announced it will acquire 30% of Tokyo-listed apparel company Marusho Hotta (TSE: 8105), becoming its largest shareholder. The move is part of Bakkt’s broader strategy to expand its Bitcoin treasury operations internationally.
From Fashion to Finance: Rebranding as bitcoin.jp
Pending shareholder approval, Marusho Hotta will be rebranded as “bitcoin.jp”, signaling a full pivot toward digital asset management. Bakkt has already secured the domain name and will install Phillip Lord, President of Bakkt International, as the new CEO.
Co-CEO Akshay Naheta stated:“Japan’s regulatory environment creates an ideal platform for a Bitcoin-centered growth business.”
The company plans to integrate Bitcoin into Marusho Hotta’s operating and financial model, transforming it into a flagship crypto treasury hub in Asia.
Market Reaction: Muted Optimism
Despite the strategic significance, Bakkt’s stock rose just 2.52% to $9.77, remaining near its 2025 lows. Analysts suggest the market may be waiting for Bitcoin to break above $120,000 before pricing in upside potential.
This contrasts with previous Bakkt milestones:
- Nov 2024: Trump Media announced plans to acquire Bakkt, sending shares up 160%
- June 2025: Bakkt unveiled a $1 billion Bitcoin treasury initiative, triggering another rally
Bakkt stock price chart, source: TradingView
Related Articles
Sea 2Q25 Earnings Preview: Shopee is Still Rocking?
TradingKey - Sea Limited will release its earnings for the second quarter of the fiscal 2025 on August 12th before the bell.
BoE August Rate Decision Commentary: Where Next for the Pound?
TradingKey - On 7 August 2025, the Bank of England (BoE) lowered its benchmark interest rate from 4.25% to 4%, aligning with broad market expectations. Notably, the decision sparked significant division within the committee, requiring two rounds of voting to pass.
MP Materials 2Q25 Earnings Comment: Going up the Value Chain
TradingKey - MP Materials released its earnings for the second quarter of the fiscal 2025 on August 7th after the bell.The smaller loss and the better revenue were surely welcomed by investors, and the stock is up 8.50% in the post-bell session.
Eli Lilly’s Q2 2025 Triumph: Soaring Revenue, Plunging Stock – What’s Behind the Paradox?
TradingKey - Eli Lilly released its Q2 2025 financial results, demonstrating impressive financial performance. However, despite the stellar results, its stock price plummeted by over 14%, closing at approximately $640, down more than 30% from its yearly high..jpg)
Caution on Short-Term Downside Risks for U.S. Stock Market
TradingKey - Last Friday, the U.S. Labor Department sharply revised downward its May and June nonfarm payroll figures by a combined 258,000 jobs, a reduction exceeding 90%. Meanwhile, July’s payroll increase came in at just 73,000, falling short of the 100,000 forecast.
