Prenetics Pauses Daily Bitcoin Purchases After Building 510 BTC Reserve, Shifts Capital Toward IM8 Growth

Beckham-Backed Health Firm Keeps Crypto Holdings but Reallocates Strategy as Market Conditions and Core Business Priorities Evolve

TL;DR

• Prenetics has paused its daily Bitcoin buying strategy after accumulating 510 BTC, citing a strategic refocus on its fast-growing IM8 consumer health brand.
• The company holds roughly $70 million in cash, remains debt-free, and will retain its existing Bitcoin reserves without adding new exposure.
• The move reflects a broader slowdown in corporate Bitcoin accumulation as crypto price volatility reshapes treasury strategies.

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Prenetics Global Limited, the Nasdaq-listed health sciences company co-founded by David Beckham, has halted its daily Bitcoin purchasing program after several months of steady accumulation, marking a clear pivot away from active crypto treasury expansion and toward its rapidly scaling consumer health business. The decision, which took effect on December 4, 2025, was disclosed in late-December updates and reported publicly on December 31. Management framed the move as a capital allocation shift rather than a retreat from digital assets, emphasizing that existing Bitcoin holdings will remain on the balance sheet.

The company began buying Bitcoin in June 2025 under a simple but visible strategy: acquiring one BTC per day to build a long-term reserve. Early execution included an initial deployment of about $20 million to purchase roughly 187 BTC at an average price close to $106,712 per coin. That program was later supported by a $48 million oversubscribed equity raise completed in October, with proceeds earmarked for both treasury initiatives and operating growth. By the time purchases were paused, Prenetics had accumulated a total of 510 BTC, a position valued at roughly $45 million based on prevailing crypto price levels near the announcement, when Bitcoin was trading around the high-$80,000 range.

Market conditions played a meaningful backdrop role. Bitcoin had softened from earlier 2025 highs, leaving portions of Prenetics’ initial purchases underwater, with unrealized losses estimated at about $3.4 million, or roughly 17%, on the earliest tranche. Broader indicators also pointed to waning corporate appetite for digital assets. October corporate Bitcoin buying fell to around 14,447 BTC, a sharp drop from earlier months that saw more than 38,000 BTC added to balance sheets, signaling a cooling phase tied to crypto price volatility, shifting risk tolerance, and tighter capital discipline. Against this environment, the company opted to stop incremental exposure while keeping its existing reserve intact.

Financially, Prenetics enters the pause from a position of balance-sheet strength. Alongside its Bitcoin holdings, the firm reports more than $70 million in cash and cash equivalents and carries no debt. Executives argue this liquidity provides flexibility to fund expansion without relying on further asset purchases tied to crypto price swings or the broader coin market cap cycle. The decision was positioned internally as pragmatic rather than ideological, aligning capital with the highest near-term return potential.

That return potential is centered on IM8, Prenetics’ consumer health and nutrition brand, also associated with Beckham, which has scaled far faster than initially projected. Within 11 months of launch, IM8 reached more than $100 million in annualized recurring revenue, a performance that management says exceeded expectations and demanded full operational focus. Projections for fiscal 2026 place IM8 revenue between $180 million and $200 million, numbers that have increasingly defined the company’s growth narrative. Chief executive Danny Yeung described the moment as one requiring concentration, noting that the clearest path to sustainable shareholder value now lies in expanding IM8 rather than continuing daily Bitcoin accumulation.

Investor response was measured but cautious. Prenetics shares dipped roughly 3.3% to 3.5% following the announcement, reflecting short-term sensitivity to changes in the company’s crypto strategy. Despite that pullback, the stock remains sharply higher on the year, up well over 170% by some measures, underscoring market confidence in the underlying operating business even as sentiment around crypto price exposure fluctuates. Analysts and commentators have contrasted Prenetics’ approach with companies that continue aggressive accumulation, highlighting divergent views on how corporate treasuries should interact with digital assets during periods of volatility reflected across crypto price index benchmarks.

This article has been refined and enhanced by ChatGPT.