The post Prenetics Stops Buying Bitcoin, Pivots Money To Health Brand appeared on BitcoinEthereumNews.com.

Prenetics Global Limited said it has ended its bitcoin purchasing program and will redirect its capital and strategic focus entirely toward IM8, its fast-growing consumer health and longevity brand co-founded with David Beckham. The Nasdaq-listed health sciences company said it ceased daily bitcoin purchases on Dec. 4, following approval from its board of directors, and will not pursue future acquisitions of the cryptocurrency.  Prenetics will retain its existing holdings of 510 bitcoin as a treasury reserve asset but has committed not to allocate any new or existing capital toward expanding that position. The move marks a clear shift away from a strategy the company adopted earlier this year, when several public firms began accumulating bitcoin as a treasury asset during a rising market. That trend has slowed in recent months as cryptocurrency prices weakened and investor focus returned to core operating businesses. Prenetics said the decision reflects the rapid growth of IM8, which it described as the fastest-growing supplement brand in the industry’s history.  The company said IM8 surpassed $100 million in annualized recurring revenue within 11 months of launch and is projected to generate between $180 million and $200 million in revenue in fiscal year 2026. “The phenomenal success of IM8 has exceeded all expectations and scaled much faster than our original expectations,” said Danny Yeung, Prenetics’ chief executive officer and co-founder. He said management and the board agreed that concentrating resources on IM8 offered the clearest path to long-term shareholder value. Prenetics said it remains in a strong financial position, with more than $70 million in cash and cash equivalents, zero debt, and its existing bitcoin holdings intact. The company said that balance sheet strength gives it flexibility to fund IM8’s next phase of growth without relying on external financing. Under the revised capital allocation strategy, Prenetics said…

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Filed under: News - @ December 30, 2025 5:27 pm