In the dynamic world of cryptocurrency, Bakkt Holdings (BKKT) is making headlines with a strategic plan to acquire a notable stake in MarushoHotta Co., Ltd. (MHT), a company that is publicly traded on the Tokyo Stock Exchange (TSE).
This acquisition, which encompasses around 30% of MHT’s outstanding shares, comes through a share purchase agreement with RIZAP Group, Inc., establishing Bakkt as the principal shareholder of this emerging player.
Integrating Digital Currency into Corporate Strategies
In a recent announcement issued on Wednesday, Bakkt’s Phillip Lord will step in as the CEO of MHT. His leadership is expected to pave the way for MHT to integrate Bitcoin (BTC) and various digital assets into its treasury management plans.
Additively, Bakkt has secured the prestigious domain name www.bitcoin.jp. This new identity for MHT is set to take effect upon securing the approval of MarushoHotta’s shareholders.
In his statement, Akshay Naheta, co-CEO of Bakkt, expressed optimism about this venture, highlighting Japan’s welcoming regulatory climate as a prime backdrop for building a Bitcoin-oriented business:
Japan’s regulatory infrastructure provides a fertile ground for expanding a Bitcoin-based enterprise. We are eager to partner with MHT’s team to weave Bitcoin into their operational framework and position MHT as a leader in treasury management for Bitcoin.
Stock Volatility and Future Outlook
This acquisition is a crucial part of Bakkt’s wider initiative to enhance its Bitcoin holdings. Recently, the firm has initiated plans to obtain up to $1 billion through diverse securities offerings, reflecting an increasing inclination among publicly traded businesses to solidify their cryptocurrency assets.
These proposed offerings involve Class A shares and pre-funded warrants, with underwriters being granted a 30-day window to buy an extra 15% of shares sold, potentially permitting further allotments. However, the size, timing, and specific conditions of the offering are subject to fluctuations in market circumstances.
Yet, despite these robust ambitions, Bakkt has faced hurdles. In March 2025, shares of BKKT descended by an alarming 30%, following news that major clients, including Bank of America, would not renew their financial partnerships with the company.
As of the latest update, BKKT shares closed at $9.77, reflecting a modest uptick of 2.5%. Still, they are plummeting over 70% from this year’s peak of $31.
Taking a longer view, BKKT’s stocks soared to an unprecedented high of $1,271 in November 2021, demonstrating a dramatic decline over the years.
Featured image sourced from DALL-E, chart provided courtesy of TradingView.com.
