Prenetics Becomes First Healthcare Firm To Launch Bitcoin Treasury Strategy With $20M BTC Purchase
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Prenetics Global Limited, a health sciences company, announced today that it has purchased $20 million worth of Bitcoin as part of a newly approved corporate treasury strategy. The company acquired 187.42 BTC at an average price of $106,712 and stated that its board has approved allocating the majority of its $117 million balance sheet to Bitcoin. This follows the company’s strategic transfer of ownership of ACT Genomics, which increased its pro-forma cash to approximately $66 million and total liquid assets, including BTC and short-term holdings, to around $117 million. According to a press release sent to Bitcoin Magazine, Danny Yeung, CEO of Prenetics stated, “With our strengthened balance sheet of $117 million in cash, BTC and short-term assets, we now have the financial foundation to pioneer innovative treasury management approaches, including our historic Bitcoin treasury strategy.” Prenetics also announced the appointment of Andy Cheung, former COO of cryptocurrency exchange OKEx, to its Board of Directors. Cheung noted that the company’s Bitcoin strategy will include active treasury management, using tools such as derivatives and structured products. “This isn’t about passive Bitcoin storage,” said Cheung. “We’re talking about dynamic treasury management using derivatives, yield strategies, and institutional-grade trading techniques.” Prenetics plans to expand its Bitcoin holdings through institutional capital partnerships and to implement advanced return strategies. It also plans to accept Bitcoin payments across its direct to consumer platforms, including IM8 Health and CircleDNA. In addition to Cheung, the company is working with two industry advisors, Tracy Hoyos Lopez, Chief of Staff at Kraken and a board member at the Bitcoin Advocacy Project, and Raphael Strauch, founder of crypto conference TOKEN2049. “This is not a short-term play or market timing decision,” said Yeung. “We are implementing a comprehensive, long-term Bitcoin strategy that we believe will fundamentally transform our company’s value proposition.” Prenetics…
Filed under: News - @ June 18, 2025 2:23 pm