David Beckham-Backed Prenetics Global Ends Bitcoin Accumulation To Focus On IM8 Brand
Prenetics Global Limited, a supplements company backed by David Beckham, has announced that it will no longer accumulate Bitcoin daily, citing the decline in the crypto market and the strong growth of its nutritional brand IM8.
That’s as the crypto market entered a downtrend in the second half of 2025. Additionally, the market has struggled to recover since the record liquidation event on Oct. 10. Data from CoinMarketCap shows the digital asset market’s capitalization has oscillated around the $3 trillion mark over the past month after soaring to above $4 trillion earlier in the year.
Crypto market cap (Source: CoinMarketCap)
Prenetics Global To Realign Its Focus Away From Bitcoin
In a Dec. 30 announcement, Prenetics said that it had paused its Bitcoin purchases on Dec. 4. It added that it will not pursue additional BTC acquisitions. The company did say, however, that it will keep 510 Bitcoin on its balance sheets, along with over $70 million in cash and cash equivalents.
In June, the company rolled out its Bitcoin accumulation strategy, following the model pioneered and championed by Michael Saylor’s Strategy Inc.
On Oct. 27, Prenetics CEO and co-founder Danny Yeung announced that the Nasdaq-listed firm secured $48 million in oversubscribed equity in a funding round.
That round included investors such as Kraken, Exodus, GPTX, and American Ventures. Yeung said that the funds would be used to help scale its IM8 business globally while accumulating 1 BTC daily towards the goal of $1 billion in revenue and Bitcoin within five years.
The company had purchased 187 Bitcoin in June for $20 million. This purchase was executed at an average price of $106,712 per coin. As of 1:47 a.m. EST, the largest crypto by market cap trades at $88,404.65.
Instead of accumulating BTC on a daily basis, the company said that it will realign to “fully capitalize” on the rapid growth of its consumer health brand IM8, which it said has generated over $100 million in annualized recurring revenue (ARR) since its launch 11 months ago.
“The phenomenal success of IM8 has exceeded all expectations and scaled much faster than we originally anticipated,” Yeung said. “Our board and management team unanimously agreed that the most promising path to creating significant, sustainable shareholder value is to devote our undivided attention to this opportunity clearly visible in IM8.”
Strategy Continues To Accumulate BTC
While Prenetics Global has ended its Bitcoin accumulation, Strategy continues to buy more BTC.
The company’s latest purchase was announced on Dec. 29 by Saylor. He said that Strategy bought 1,229 BTC for approximately $108.8 million at an average price of $88,568 per coin.
Saylor added that Strategy has achieved a BTC yield of 23.2% year-to-date (YTD). With the latest purchase, the company holds 672,497 BTC on its balance sheets. Overall, this crypto was acquired for about $50.44 billion at $74,997 per coin, Saylor said.
Strategy’s continued accumulation is driven by expectations of further upside for BTC.
“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,” said Strategy’s CFO Andrew Kang Tuesday on a podcast.
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