In a significant strategic shift, Prenetics Global Limited, a Nasdaq-listed health sciences company associated with David Beckham, has announced that it will cease its Bitcoin purchasing strategy as of December 2025. The firm, which raised $48 million in 2025 in support of its plan to acquire one Bitcoin per day, has decided against further capital allocation to Bitcoin acquisitions in 2026.
The abrupt pivot comes on the heels of Prenetics amassing a total of 510 BTC, valued at approximately $45 million. This decision reflects a broader apprehension regarding the volatility of Bitcoin as the cryptocurrency faced a severe decline in value during late 2025.
Market Turbulence Inspires Evolution
Bitcoin’s steep downturn in November and December 2025 triggered concerns not only for retail investors but also for numerous public firms that had made substantial investments in the crypto space. Notably, companies like MicroStrategy saw their stock plummet by over 60% in a span of six months, exacerbating the scrutiny of corporate treasury strategies that involve cryptocurrencies.
Analysts underscored the risks entailed in such equity-funded crypto strategies, which can precipitate significant losses during market downturns. This prompted Prenetics to reassess its position, resulting in a unanimous board decision to halt Bitcoin purchases and refocus on core business operations.
Prioritizing IM8’s Expansion
The cessation of Bitcoin acquisitions allows Prenetics to concentrate on its health and nutrition brand, IM8, which has impressively generated $100 million in recurring revenue within just 11 months of its launch. The company is now targeting revenues between $160 million and $200 million in 2026.
CEO Danny Yeung affirmed, “Operating from a position of strength, we are making disciplined strategic decisions that reflect our experience as operators and our commitment to maximizing long-term shareholder value.” The resilient performance of IM8 has indeed influenced this strategic pivot, as the board seeks to enhance product and market growth over financial asset accumulation.
A Shifting Landscape for Corporate Crypto Strategies
Prenetics’ withdrawal from active Bitcoin buying is emblematic of a larger trend among firms that previously embraced digital asset treasury strategies. For instance, ETHZilla, supported by Peter Thiel, recently divested $74.5 million worth of Ethereum while closing its crypto treasury division, signaling a cautious approach towards utilizing cryptocurrencies as vital financial assets.
This growing reluctance among public companies indicates an overarching sentiment that risks often outweigh the rewards, particularly in volatile market conditions. Following the announcement of its strategy shift, Prenetics’ PRE stock experienced a 3.5% decline; however, it remains up 189% for the year overall.
While Prenetics will no longer be adding to its Bitcoin holdings, it still stands out as one of the few non-crypto enterprises with a significant digital asset reserve. This decision to forego daily Bitcoin acquisitions is seen as a tactical maneuver to strengthen its position in the healthcare market while minimizing exposure to the unpredictable nature of cryptocurrency investments.
