David Beckham-backed health firm Prenetics ceases Bitcoin treasury plans
Strategy change comes as the coin has entered a bear market, causing the stock price of many digital-asset treasuries to fall
[NEW YORK] Prenetics, a health-sciences company that started buying Bitcoin earlier this year, has become the latest digital-asset treasury firm to halt that strategy amid depressed cryptocurrency prices.
The firm said on Tuesday (Dec 30) that it stopped buying Bitcoin on Dec 4, and will now focus more on IM8, a nutritional supplement brand co-founded by English football icon David Beckham.
Beckham is also a strategic investor in Prenetics, indicated the company’s website.
“We are making disciplined strategic decisions that reflect our experience as operators, and our commitment to maximising long-term shareholder value,” said Danny Yeung, Prenetics’ chief executive officer.
Prenetics launched its Bitcoin accumulation strategy in June, following a model pioneered by Michael Saylor’s Strategy.
Such digital-asset treasury firms raise capital to buy crypto, a business plan that became popular earlier in 2025 when prices were on the rise, but has faded since the crypto market crashed in October.
As Bitcoin entered a bear market and the stock price of many digital-asset treasuries fell, executives at several of these companies have changed their tune.
Upon announcing Prenetics’ Bitcoin accumulation plan in June, Yeung said he was most excited by the “convergence we’re witnessing between healthcare innovation and blockchain technology”, calling it “the dawn of a new era”.
Prenetics said it intends to keep its current holdings of 510 Bitcoin, worth US$44.8 million as at Tuesday. BLOOMBERG
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