Following the announcement, Marusho Hotta's stock surged over 36%, reflecting investor optimism after previously trading as a penny stock.

The agreement is subject to shareholder approval and aims to officially incorporate investments in Bitcoin and other digital assets into the company's policies.

Despite recent setbacks, including the loss of two major clients, Bakkt remains committed to reshaping its identity within the digital asset space.

Bakkt Holdings Inc. has announced its acquisition of a 30% stake in Japan's Marusho Hotta Co., Ltd., which will be rebranded as 'bitcoin.jp' to focus on Bitcoin-backed treasury operations.

The acquisition agreement, made with RIZAP Group Inc., positions Bakkt as the largest shareholder in Marusho Hotta.

As part of this deal, Bakkt has secured the web domain www.bitcoin.jp, pending approval from Marusho Hotta's shareholders.

Bakkt co-CEO Akshay Naheta emphasized that Japan's regulatory environment is favorable for Bitcoin growth, viewing this acquisition as a foundational step for their crypto treasury strategy.

This acquisition marks the beginning of Bakkt's multinational Bitcoin treasury strategy, targeting traditional companies in regulated environments.

This acquisition aligns with Bakkt's strategy to evolve into a pure-play crypto infrastructure company, as it aims to raise up to $1 billion to support future Bitcoin purchases.

Phillip Lord, President of Bakkt International, will assume the role of CEO of Marusho Hotta after the acquisition.

The acquisition reflects a growing trend of traditional firms integrating digital assets into their corporate treasury strategies, particularly in Japan's favorable regulatory landscape.

Despite Bakkt's initiatives, the company's shares have seen a significant decline after the IPO pricing, indicating a negative market reaction.