Prenetics Halts Bitcoin Accumulation Strategy Amid Market Slump

TheNewsCryptoPublished on 2025-12-31Last updated on 2025-12-31

Abstract

Prenetics, a health science company co-founded by David Beckham, has halted its Bitcoin accumulation strategy due to the recent cryptocurrency market slump. The company had initially planned to use part of a $48 million funding round to purchase Bitcoin, following a strategy inspired by Michael Saylor. However, due to market volatility and declining prices, Prenetics officially stopped buying Bitcoin on December 4. Instead, the company is redirecting all capital toward its core consumer health brand, IM8, which focuses on nutrition supplements, gut health, and immune support. Launched less than 12 months ago, IM8 has already achieved over $120 million in annual recurring revenue. CEO Danny Yeung highlighted significant growth, with Q3 revenue up 568% year-over-year to $23.6 million. Prenetics will retain its existing holdings of 514 BTC, valued at approximately $45 million, but will not allocate any additional capital for future Bitcoin purchases.

Prenetics is a health science and diagnostics company co-founded and supported by the well-known football player David Beckham. Due to the recent slump in the cryptocurrency market, it announced that it has halted its Bitcoin Purchasing Strategy. Before halting, the plan of the company was that a portion of the $48 million the company had raised this year would go toward buying Bitcoin and keeping it on the balance sheet. This approach has been copied from the well-known investor and businessman Michael Saylor’s Strategy Inc.

As the crypto market is more volatile and the price of Bitcoin started dipping, this made Prenetics drop the Bitcoin accumulation strategy. Because of this prolonged weakness in the market, Prenetics decided to stop buying Bitcoin officially on December 4. The funding round has been initiated, and Kraken and Exodus have been part of the funding round for Prenetics.

Prenetics Stops Bitcoin Buying, Redirects Capital to IM8

Now, Prenetics is putting all its money into its own business of IM8, which is a core consumer health brand. It purely focuses on nutrition supplements, Gut health, and Immune support. This business was started less than 11 months ago, and within a short period of time, the business has raised over $100 million in annual recurring revenue (ARR). The CEO, Danny Yeung, says that

“Q3 results are in, and here are the highlights:

– We’re growing at unprecedented speed. PRE revenue up 568% YoY to $23.6M

– IM8: From $0 to $120M ARR in just 12 months – fastest supplement brand growth in industry history globally.”

He also says that this business is evolving into one of the most successful businesses and growing more massively than expected. So Prenetics started to focus on scaling IM8 globally.

Despite new purchases, Prenetics confirms that it will hold the existing BTC. Currently, Prenetics holds 514 BTC, which is valued at around $45 million at the time of writing. The company also clarified that it will not allocate any existing or future capital for the additional Bitcoin purchases.

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Related Questions

QWhy did Prenetics decide to halt its Bitcoin accumulation strategy?

APrenetics halted its Bitcoin accumulation strategy due to the recent slump and prolonged weakness in the cryptocurrency market, which made Bitcoin prices volatile and caused them to drop.

QWhat was the original purpose of the $48 million raised by Prenetics this year?

AThe original plan was to allocate a portion of the $48 million raised toward buying Bitcoin and keeping it on the company's balance sheet.

QWhat is IM8, and why is Prenetics redirecting capital to it?

AIM8 is Prenetics' core consumer health brand focused on nutrition supplements, gut health, and immune support. The company is redirecting capital to IM8 because it has shown unprecedented growth, generating over $100 million in annual recurring revenue in less than 12 months.

QHow much Bitcoin does Prenetics currently hold, and what is its approximate value?

APrenetics currently holds 514 BTC, which is valued at approximately $45 million at the time of writing.

QWho co-founded and supports Prenetics, and which companies participated in its funding round?

APrenetics was co-founded and is supported by football player David Beckham. Kraken and Exodus were part of the funding round for the company.

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