Shift in Corporate Strategy Redirects Capital From Crypto to Consumer Health Growth
Prenetics Global Limited has ended its active Bitcoiin treasury accumulation strategy, choosing instead to concentrate capital on expanding its rapidly growing consumer nutrition brand IM8, which is backed by former football star David Beckham. The company will retain its existing Bitcoin holdings but has confirmed it will not make further purchases.
The decision marks a strategic pivot after Prenetics paused its daily Bitcoin buying program on Dec. 4, reversing a plan announced earlier this year to build a long-term digital asset reserve. While the crypto strategy has been discontinued, the company continues to hold 510 Bitcoin on its balance sheet, alongside more than $70 million in cash and cash equivalents.
The shift comes as IM8, a Prenetics subsidiary offering an all-in-one daily nutrition supplement, has demonstrated strong commercial momentum. According to the company, IM8 surpassed $100 million in annualized recurring revenue within just 11 months of launch, prompting leadership to reallocate resources toward scaling the brand globally.
Prenetics initially entered the Bitcoin market in June with a $20 million investment, acquiring approximately 187 BTC at an average price of $106,712 per coin. Wiith Bitcoin recently trading below that level, the company is currently sitting on an unrealized loss of roughly 17%, estimated at about $3.4 million on that portion of its holdings.
Following the announcement, Prenetics shares declined 3.32% in Nasdaq trading, though the stock remains up nearly 170% year-to-date, reflecting broader investor confidence in its core health and nutrition business.
By stepping back from Bitcoin accumulation while preserving its existing holdings, Prenetics is signaling a renewed focus on profitable consumer health growth over speculative asset expansion, aligning capital deployment with its strongest revenue driver.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.