{"id":883145,"date":"2026-01-07T05:21:51","date_gmt":"2026-01-07T11:21:51","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/01\/07\/prenetics-scraps-bitcoin-strategy-to-focus-on-beckham-backed-nutrition-brand\/"},"modified":"2026-01-07T05:21:51","modified_gmt":"2026-01-07T11:21:51","slug":"prenetics-scraps-bitcoin-strategy-to-focus-on-beckham-backed-nutrition-brand","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/01\/07\/prenetics-scraps-bitcoin-strategy-to-focus-on-beckham-backed-nutrition-brand\/","title":{"rendered":"Prenetics scraps Bitcoin strategy to focus on Beckham-backed nutrition brand"},"content":{"rendered":"
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Prenetics Global Limited halted its Bitcoin treasury buying program, ending daily purchases announced in June to refocus on its consumer health brand co-founded with former football player David Beckham.<\/p>\n

According to an announcement<\/a> on Tuesday, the company paused its Bitcoin purchases on Dec. 4 and will not pursue additional BTC acquisitions, focusing instead on scaling its nutritional brand IM8, which Prenetics said surpassed $100 million in annualized recurring revenue within 11 months of launch.<\/p>\n

The company will keep 510 Bitcoin (BTC<\/a>) on its balance sheets, along with more than $70 million in cash and cash equivalents. IM8, a subsidiary of Prenetics, sells an all-in-one daily nutrition supplement marketed as a replacement for multiple standalone products.<\/p>\n

In June, company launched a Bitcoin reserve strategy<\/a>, investing $20 million to acquire about 187 Bitcoin at an average price of $106,712 per coin. Bitcoin was trading at $88,198 at time of writing, implying an unrealized loss<\/a> of about 17%, or about $3.4 million on the position.<\/p>\n

Prenetics’ shares fell 3.32% in Tuesday trading on Nasdaq, while still up nearly 170% on the year, according to Google Finance data<\/a>.<\/p>\n

Source: <\/em>Google Finance<\/em><\/a><\/figcaption><\/figure>\n

Related:\u00a0<\/strong><\/em>Strategy in 2026: Can its Bitcoin-first model hold up?<\/strong><\/em><\/a><\/p>\n

Strategy says BTC price will keep rising over time<\/h2>\n

According to data<\/a> from BitcoinTreasuries.NET, 192 publicly traded companies now hold Bitcoin on their balance sheets, collectively accounting for nearly 1.1 million BTC.\u00a0<\/p>\n

A large share of that total is concentrated in Strategy, the Michael Saylor-led company whose pivot in 2020<\/a> laid the blueprint for corporate Bitcoin treasury companies. Following Strategy\u2019s latest purchase on Monday<\/a>, the company holds 672,497 Bitcoin.<\/p>\n

Entities holding Bitcoin. Source: <\/em>BitcointTeasuries.NET<\/em><\/a><\/figcaption><\/figure>\n

Strategy chief financial officer Andrew Kang said<\/a> Tuesday on a podcast that the company continues to buy and hold Bitcoin, citing expectations of further upside. He said:<\/p>\n

We know it’s [Bitcoin] going to go from where it is today back to 125k, up to 200k, up to a million, and up to 21,000,000 one day. That all still is going to happen. It just is going to happen over a period of time [\u2026] And so for us, why we keep doing it [buying] with that principle in mind.\u201d<\/p><\/blockquote>\n

Managing director of GoMining Institutional, Fakhul Miah, told Cointelegraph in June<\/a> that he feared \u201ccopycat\u201d companies that are \u201ctrying to create Bitcoin banks without proper safeguards or risk management.\u201d<\/p>\n

Magazine: <\/strong><\/em>Quantum attacking Bitcoin would be a waste of time: Kevin O\u2019Leary<\/strong><\/em><\/a><\/p>\n