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Prenetics Becomes First Healthcare Firm to Launch Bitcoin Treasury Strategy With $20M BTC Purchase
- Prenetics Global Limited, a health sciences company, has purchased $20 million worth of Bitcoin for its corporate treasury strategy.
- The purchase includes 187.42 BTC at an average price of $106,712, with plans to allocate the majority of its $117 million balance sheet to Bitcoin.
- The company transferred ownership of ACT Genomics to increase its cash reserves to approximately $66 million and total liquid assets to around $117 million.
- CEO Danny Yeung stated the company now has a solid financial foundation for innovative treasury management approaches, including the Bitcoin strategy.
- Former OKEx COO Andy Cheung has been appointed to the Board of Directors and will implement active treasury management strategies.
- Prenetics plans to expand its BTC holdings through institutional partnerships and accept Bitcoin payments on its platforms, including IM8 Health and CircleDNA.
- The company is working with industry advisors Tracy Hoyos Lopez and Raphael Strauch to guide its Bitcoin strategy.
- Prenetics reported significant revenue growth in Q1 2025, with a 336.5% year-over-year increase.
- The company aims to implement a long-term Bitcoin strategy for transformative value proposition.
- Prenetics' move highlights Bitcoin's growth and potential integration within the healthcare sector.
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