Finance Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail David Beckham-backed Prenetics ditches bitco Finance Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail David Beckham-backed Prenetics ditches bitco

David Beckham-backed Prenetics ditches bitcoin purchase

2025/12/31 02:26
5 min read
For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail

David Beckham-backed Prenetics ditches bitcoin purchase

The health sciences company, co-founded by English football icon, announcement comes as the crypto’s market capitalization continues to lose ground.

By Olivier Acuna|Edited by Aoyon Ashraf
Dec 30, 2025, 6:26 p.m.
The health sciences firm is shifting its focus to IM8 supplements as crypto markets remain under pressure.

What to know:

  • Prenetics has halted its bitcoin purchasing strategy due to a prolonged downturn in the cryptocurrency market.
  • The company will focus its resources on its IM8 business, which has generated over $100 million in annualized recurring revenue.
  • Prenetics will retain its existing 510 bitcoin as a reserve asset, valued at nearly $45 million.

Prenetics (PRE), a health-sciences company that raised $48 million earlier this year, partially to build a bitcoin treasury, said it decided to stop purchasing BTC amid prolonged weakness in the cryptocurrency market.

The company rolled out its bitcoin accumulation strategy in June, following a model championed by Michael Saylor’s Strategy Inc, in which firms raise capital to buy and hold crypto on their balance sheets. The business model gained traction earlier this year as crypto prices rose, but enthusiasm faded after the steep market downturn in October.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Sign me up

On Oct. 27, Prenetics CEO and co/founder Danny Yeung announced the funding round, which included investors such as Kraken, Exodus (EXOD), GPTX and American Ventures. He said the funds would help its "IM8" business scale globally while accumulating 1 BTC daily toward a goal of $1 billion in revenue and bitcoin within five years.

However, the firm said in a statement on Tuesday that it stopped purchasing bitcoin on Dec. 4 to focus its resources exclusively on IM8, which it said has generated more than $100 million in annualized recurring revenue (ARR) since it launched 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.”

Prenetics, backed and co-founded by English football icon David Beckham, said it won't allocate any existing or new capital for the purpose of buying additional bitcoin. However, it still plans to hold its existing 510 bitcoin as a reserve asset, worth nearly $45 million as of Tuesday afternoon ET.

Prenetics shares have risen 189% this year, while Michael Saylor's MSTR fell nearly 48% and bitcoin dipped about 5.6%.

Read more: Is the Bitcoin Digital Asset Treasury Model Broken? Architect Partners Says No

Bitcoin NewsDavid Beckham

More For You

State of the Blockchain 2025

Commissioned byInput Output Group

L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.

What to know:

2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.

This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.

View Full Report

More For You

Grayscale files for first U.S. Bittensor ETP as decentralized AI gains momentum

The filing marks the first attempt to bring TAO, Bittensor’s native token, to U.S. markets through a regulated investment product.

What to know:

  • Grayscale has filed an initial S-1 registration with the SEC for the first U.S.-listed ETP offering exposure to Bittensor's TAO token.
  • The proposed Grayscale Bittensor Trust will be trading under the ticker GTAO, and aims to provide regulated access to decentralized AI tokens.
  • The filing highlights the rapid evolution of decentralized AI and growing institutional interest in AI-related crypto assets.
Read full story
Latest Crypto News

South Korea’s long-awaited crypto law stalls over who can issue stablecoins

Grayscale files for first U.S. Bittensor ETP as decentralized AI gains momentum

Bitcoin rises above $89,000, showing rare gain in U.S. trading

CoinDesk 20 Performance Update: Ethereum (ETH) Gains 1.8% as Index Moves Higher

Grayscale sees regulation, not quantum fears, shaping crypto markets in 2026

Aptos gains as volume surge signals accumulation

Top Stories

Bitcoin rises above $89,000, showing rare gain in U.S. trading

In 2025, bitcoin showed how spectacularly wrong price forecasts can be

Metaplanet buys 4,279 bitcoin, lifts total holdings to 35,102 BTC

BlackRock’s BUIDL hits $100M million in dividends and passes $2 billion in assets

Grayscale sees regulation, not quantum fears, shaping crypto markets in 2026

Long-term holders turn net accumulators, easing a major bitcoin headwind

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

BlackRock Increases U.S. Stock Exposure Amid AI Surge

BlackRock Increases U.S. Stock Exposure Amid AI Surge

The post BlackRock Increases U.S. Stock Exposure Amid AI Surge appeared on BitcoinEthereumNews.com. Key Points: BlackRock significantly increased U.S. stock exposure. AI sector driven gains boost S&P 500 to historic highs. Shift may set a precedent for other major asset managers. BlackRock, the largest asset manager, significantly increased U.S. stock and AI sector exposure, adjusting its $185 billion investment portfolios, according to a recent investment outlook report.. This strategic shift signals strong confidence in U.S. market growth, driven by AI and anticipated Federal Reserve moves, influencing significant fund flows into BlackRock’s ETFs. The reallocation increases U.S. stocks by 2% while reducing holdings in international developed markets. BlackRock’s move reflects confidence in the U.S. stock market’s trajectory, driven by robust earnings and the anticipation of Federal Reserve rate cuts. As a result, billions of dollars have flowed into BlackRock’s ETFs following the portfolio adjustment. “Our increased allocation to U.S. stocks, particularly in the AI sector, is a testament to our confidence in the growth potential of these technologies.” — Larry Fink, CEO, BlackRock The financial markets have responded favorably to this adjustment. The S&P 500 Index recently reached a historic high this year, supported by AI-driven investment enthusiasm. BlackRock’s decision aligns with widespread market speculation on the Federal Reserve’s next moves, further amplifying investor interest and confidence. AI Surge Propels S&P 500 to Historic Highs At no other time in history has the S&P 500 seen such dramatic gains driven by a single sector as the recent surge spurred by AI investments in 2023. Experts suggest that the strategic increase in U.S. stock exposure by BlackRock may set a precedent for other major asset managers. Historically, shifts of this magnitude have influenced broader market behaviors as others follow suit. Market analysts point to the favorable economic environment and technological advancements that are propelling the AI sector’s momentum. The continued growth of AI technologies is…
Share
BitcoinEthereumNews2025/09/18 02:49
Pound Sterling Plummets: US Dollar Soars on Intensifying Global Risk Aversion

Pound Sterling Plummets: US Dollar Soars on Intensifying Global Risk Aversion

BitcoinWorld Pound Sterling Plummets: US Dollar Soars on Intensifying Global Risk Aversion LONDON, April 2025 – The Pound Sterling has experienced a pronounced
Share
bitcoinworld2026/03/09 13:15
CME to launch Solana and XRP futures options on October 13, 2025

CME to launch Solana and XRP futures options on October 13, 2025

The post CME to launch Solana and XRP futures options on October 13, 2025 appeared on BitcoinEthereumNews.com. Key Takeaways CME Group will launch futures options for Solana (SOL) and XRP. The launch date is set for October 13, 2025. CME Group will launch futures options for Solana and XRP on October 13, 2025. The Chicago-based derivatives exchange will add the new crypto derivatives products to its existing digital asset offerings. The launch will provide institutional and retail traders with additional tools to hedge positions and speculate on price movements for both digital assets. The futures options will be based on CME’s existing Solana and XRP futures contracts. Trading will be conducted through CME Globex, the exchange’s electronic trading platform. Source: https://cryptobriefing.com/cme-solana-xrp-futures-options-launch-2025/
Share
BitcoinEthereumNews2025/09/18 01:07