Key Takeaways
- Prenetics halts its Bitcoin purchasing program to focus on its successful consumer health brand, IM8.
- The decision was approved by the Board of Directors, emphasizing the prioritization of shareholder value through the IM8 brand.
Prenetics, a Nasdaq-listed healthcare firm, announced Tuesday it has stopped its Bitcoin acquisitions to focus exclusively on its consumer health brand IM8. The company will maintain its Bitcoin stash, which has grown to 510 coins valued at over $45 million.
Co-founded by David Beckham, IM8 offers all-in-one nutritional powders that replace complex daily routines. Scaling rapidly, the company hit $100 million in annualized recurring revenue within 11 months and forecasts $180–$200 million for fiscal year 2026.
Explaining the decision, CEO Danny Yeung said IM8’s performance has outpaced the company’s initial projections, prompting leadership to unanimously conclude that focusing resources on the product offers the greatest potential for sustainable value creation.
Prenetics will allocate capital to IM8’s growth, including product innovation, brand building, talent acquisition, and international expansion. The company currently holds over $70 million in cash and cash equivalents.
The decision to pause Bitcoin accumulation arrives at a moment when sentiment across crypto has softened. Despite periodic rebounds, Bitcoin continues to hover around $88,500 and has struggled for weeks to reclaim the $100,000 threshold.
The world’s largest digital asset is now on track to finish 2025 in the red. Analysts broadly expect 2026 to be more of a cooling phase than a breakout year, with limited near-term catalysts seen to spark a major price surge.
Source: https://cryptobriefing.com/prenetics-ends-bitcoin-to-focus-on-im8/
