In October, Prenetics Global Ltd. acquired 100 Bitcoin at an average price of $109,594 per coin, marking a major step in the company’s disciplined Bitcoin treasury strategy.
Two months later, the David Beckham-backed health-sciences company is changing course.
According to a Tuesday press release, Prenetics will no longer buy Bitcoin. Instead, it will maintain its existing Bitcoin holdings of 510 BTC as a treasury reserve asset.
The October purchase represented the initial deployment of proceeds from its $44 million equity offering, and attracted prominent investors including Kraken, Exodus, GPTX, XtalPi, DL Holdings, and tennis star Aryna Sabalenka.
At the time, CEO Danny Yeung touted that the firm was debt free and its Bitcoin acquisition aligned with Prenetics’ “dual-engine strategy,” combining health innovation with digital asset management.
Prior to its latest decision, Prenetics — known for its supplement brand IM8 — was averaging 1 BTC per day in addition to strategic larger purchases when market conditions were favorable.
Beckham firm became a strategic investor in Prenetics in July 2024.
Source: https://crypto.news/david-beckham-backed-prenetics-cease-bitcoin-purchases/
