According to Odaily Planet Daily, crypto infrastructure company Bakkt announced it will acquire approximately 30% of Japan's Marusho Hotta, becoming its largest shareholder. It plans to rename the company "Bitcoin JP," transforming it into a Bitcoin-centric digital asset treasury platform. Upon completion of the transaction, Bakkt International President Phillip Lord will become CEO of the new company. This move is part of Bakkt's strategy to promote a global Bitcoin treasury. In June of this year, Bakkt submitted a $1 billion fundraising plan and completed $75 million in July to purchase Bitcoin and other assets. The transaction and name change still require shareholder approval.