In October, Prenetics Global Ltd. purchased 100 Bitcoin at an average cost of $109,594 each, marking a significant advancement in the company’s structured Bitcoin treasury strategy.
However, just two months later, the health-sciences firm, supported by David Beckham, is shifting its approach.
As per a press release on Tuesday, Prenetics has decided to halt further Bitcoin acquisitions. Instead, it will focus on maintaining its current Bitcoin reserve of 510 BTC.
The October transaction marked the first use of funds from its $44 million equity offering and drew attention from notable investors like Kraken, Exodus, GPTX, XtalPi, DL Holdings, and tennis star Aryna Sabalenka.
At that time, CEO Danny Yeung emphasized that the company was free of debt and that its Bitcoin purchases were part of Prenetics’ “dual-engine strategy,” which merges health innovation with digital asset management.
Before this recent change, Prenetics — recognized for its supplement line IM8 — was purchasing an average of 1 BTC daily, along with strategic larger buys when market conditions permitted.
The Beckham firm became a strategic investor in Prenetics in July 2024.
