US EditionPrenetics stops buying bitcoin as crypto treasury trade loses steam
Prenetics will keep its 510 BTC reserve worth nearly $45 million and focus on scaling IM8, which has generated over $100 million in annual recurring revenue, the company said.
- On Dec. 4, Prenetics announced it stopped buying Bitcoin and will not allocate any existing or new capital to further BTC purchases.
- Amid prolonged weakness in the cryptocurrency market, the firm launched a Bitcoin accumulation strategy in June following Michael Saylor's Strategy Inc model, but enthusiasm faded after a sharp October downturn.
- Earlier this year, Prenetics raised $48 million partly to build a Bitcoin vault and announced Oct. 27 financing with Kraken, Exodus , GPTX and American Ventures as IM8 surpassed $100 million in ARR.
- It plans to hold its existing 510 bitcoin as a reserve asset worth nearly $45 million, while Michael Saylor's MSTR fell nearly 48% and bitcoin dipped about 5.6%.
- Board and management decided to focus fully on IM8, deeming it the best path to sustainable value while redirecting funds from the one BTC daily accumulation plan toward scaling IM8 globally.
27 Articles
27 Articles
The crypto market has one less bitcoin treasury company. The health science firm Prenetics, co-founded by former English footballer David Beckham, announced this Tuesday that it will stop buying bitcoin, a strategy it had started earlier this year, in response to the weakness of the cryptocurrency market.
Bitcoinist
Crypto Concerns Force Beckham-Backed Health Company To Stop Buying Bitcoin
Prenetics, the Nasdaq-listed health sciences group backed by soccer star David Beckham, has paused its plan to keep buying Bitcoin for the company treasury. According to reports, the firm stopped its daily purchases on December 4, 2025, and will hold the coins it already owns rather than add more. The company still retains roughly 510 BTC on its books. The move comes after a stretch of weak crypto markets and a recent $48 million equity raise th…
David Beckham-Backed Prenetics Quits BTC Strategy Five Months Into Its 5-Year Strategy
Quick take: The company stopped accumulating Bitcoin on December 4, with an existing stash of 510 Bitcoins plus cash, according to reports on Tuesday. Prenetics has now pivoted to a nutrition supplement brand, IM8, after the board unanimously approved the change in strategy. In October, the company raised $48 million in an oversubscribed equity round earmarked for Bitcoin accumulation. Prenetics Global, the Nasdaq-listed health sciences company…
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