Prenetics Global Limited has ceased its daily Bitcoin purchases, announced in June. The company wants to focus on the consumer health brand it co-founded alongside former footballer David Beckham.
An overview announcement The company announced on Tuesday that it had halted Bitcoin purchases as of Dec. 4, and would not be pursuing any additional BTC acquisitions. Instead, Prenetics will focus on growing its nutrition brand IM8, whose annualized recurring revenues, according to Prenetics, exceeded $100 million within eleven months after launch.
The company keeps 510 bitcoin (BTCThe company has more than 70 million dollars in cash or cash equivalents. IM8, a Prenetics subsidiary, is a daily nutritional supplement that replaces multiple separate products.
Companys will be launching their June campaigns. launched a Bitcoin reserve strategyBitcoin traded at $88,198 as of the time this post was published, which implies that an unrealized value of $87,712 is acquired by investing $20,000,000. Bitcoin traded at $88,198 when this article was written, which implies an unrealized profit. loss About 17% or $3.4 Million on the job.
Google Finance reported that Prenetics fell by 3.32% Tuesday in Nasdaq trading, but the stock is still nearly 170% higher than it was last year. data.
Related: Strategy in 2026: Can its Bitcoin-first model hold up?
BTC Price to Continue Rising: Strategy
As per data from BitcoinTreasuries.NET, 192 publicly traded companies now hold Bitcoin on their balance sheets, collectively accounting for nearly 1.1 million BTC.
Strategy, led by Michael Saylor, accounts for a large part of this total. whose pivot in 2020 Follow Strategy’s lead to create a corporate Bitcoin Treasury. The Strategy of Following latest purchase on MondayThe company currently holds 672 497 Bitcoin.
Andrew Kang is the chief financial strategist at Strategy. said In a podcast on Tuesday, the company stated that they continue to purchase and hold Bitcoin due to their expectation of further growth. He stated:
You know what it is? [Bitcoin] It will go back from 125k to 200k to one million and 21,000,000 in a day. All of that is still going to occur. The events will take place over time. […] Why we continue to do it [buying] “Keep this principle in mind.
Managing director of GoMining Institutional, Fakhul Miah, told Cointelegraph in June The fear of “copycat” companies that are “”Don’t create Bitcoin bank without risk management or proper safety measures.”
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Source: cointelegraph.com
