Marusho Hotta Jumps 9% On ‘Bitcoin Japan’ Rebrand, Up 1,258% In 2 Months
Marusho Hotta shares surged 9% after announcing it will rebrand to ”Bitcoin Japan,” positioning it as a major Bitcoin treasury player. The move follows the acquisition of a controlling stake by US-based crypto custody firm Bakkt Holdings in June and a pivot to Bitcoin treasury operations, sending the stock up 1,258% since Aug. 4 Its name will be changed during a shareholder meeting on Nov. 11, it said in a press release, which added that its English name will be changed to “Bitcoin Japan Corporation.” Marusho Hotta shares are trading at 720 yen ($4.84) as of 1:15 a.m. EST, up from just 53 yen on Aug. 4, according to Google Finance. Marusho Hotta share price (Source: Google Finance ) Bakkt Seeks To Create A Leading Bitcoin Treasury Company In Japan Founded in 1861, Marusho Hotta is one of Japan’s best-known kimono makers and textile producers. The company also operates a range of contemporary and hybrid fashion brands. However, years ...