David Beckham-Backed Health Firm Prenetics Abandons Bitcoin Treasury Strategy

Hong Kong-based health sciences company Prenetics Global has reversed its high-profile Bitcoin treasury initiative just six months after launch, citing a shift in focus toward its core consumer health brand co-founded with soccer legend David Beckham.

(Sources: X)

Sudden Reversal After $20 Million Bitcoin Bet

In June 2025, Prenetics made headlines by declaring itself the first healthcare company to establish a Bitcoin treasury, committing $20 million to purchase 187.42 BTC at an average price of $106,712.

CEO Danny Yeung described the move as an “unprecedented commitment” blending healthcare innovation with blockchain technology.

By December, however, the firm announced it had ceased all Bitcoin acquisitions as of December 4 and would allocate no further capital—existing or new—toward additional purchases.

The company will retain its current holdings of 510 BTC, valued at approximately $44.9 million at recent prices, as a treasury reserve asset.

Refocus on IM8 Consumer Health Brand

Leadership emphasized redirecting resources to IM8, the vitamin and supplement line co-created with David Beckham (who also holds a stake in Prenetics).

Tennis star Aryna Sabalenka is another notable shareholder in the brand, whose flagship product is Daily Ultimate Essentials.

“Our board and management unanimously agreed that the most promising path to sustainable shareholder value lies in devoting full attention to the generational opportunity in IM8,” Yeung stated.

Context: Bitcoin Treasury Trend Loses Steam

Prenetics’ pivot reflects broader challenges for the “digital asset treasury” model popularized by Michael Saylor’s Strategy Inc. and adopted by firms like Japan’s Metaplanet.

Initially fueled by Bitcoin’s rally to $126,000+ highs, the strategy faltered as prices corrected sharply in late 2025.

Many treasury-focused companies saw stock premiums evaporate, with share prices falling below the net asset value of their crypto holdings. Some resorted to share buybacks or even selling tokens to fund operations.

Crypto-exchange veteran Andy Cheung, added to Prenetics’ board during the Bitcoin push, remains in his role.

Market Reaction and Broader Implications

Prenetics shares declined 3.3% on the announcement day but have gained over 70% since the initial Bitcoin treasury reveal in June—outperforming Bitcoin’s ~16% drop over the same period.

The decision highlights shifting priorities amid crypto volatility: while early adopters like Strategy continue aggressive accumulation, others are reallocating toward core business growth.

As Bitcoin trades ~17% below Prenetics’ average purchase price, the episode underscores the risks of tying corporate balance sheets to volatile digital assets—even for companies initially drawn to the long-term narrative.