Prenetics, a healthcare company backed by David Beckham, has made a big move into Bitcoin.
The company, which is listed on the Nasdaq stock exchange, spent $20 million to buy 187.42 Bitcoins. This makes it the first publicly traded healthcare company to invest in Bitcoin, according to a recent announcement.
The Bitcoins are securely stored using Kraken’s custody service. This marks the start of what Prenetics calls a long-term digital asset strategy. Prenetics paid an average of about $106,000 for each Bitcoin—showing strong confidence in the cryptocurrency’s future.
Long-term Crypto Investment
This isn’t just a one-time move. The company plans to invest most of its balance sheet in Bitcoin, with full approval from its board of directors.
Based in Hong Kong, Prenetics is best known for its DNA testing service CircleDNA and its broader work in health and medical research. After the news came out, the company’s stock jumped 23%.
“The company sees a future where genomics, longevity science, and digital assets converge. To execute this vision at scale, we need substantial Bitcoin holdings.” CEO Danny Yeung
Plans to Grow Bitcoin Holdings
Prenetics doesn’t just plan to hold Bitcoin: it aims to actively manage it. The company outlined plans to generate extra income through lending, earning yield, and using structured financial products.
At the same time, Prenetics will begin accepting cryptocurrency payments on its direct-to-consumer health platforms. The goal is to build a full Bitcoin-based system within the business.
A Growing Trend Among Public Companies
Prenetics’ move comes as many public companies are adding Bitcoin to their corporate funds. According to Standard Chartered, 61 non-crypto companies have adopted similar strategies.
Most are following the example of MicroStrategy, which began buying Bitcoin in 2020. Since then, its stock has soared over 3,000%.
