Healthcare Firm Prenetics Announces Bitcoin Treasury Strategy: $20M BTC Purchase
Prenetics Global Limited, a health sciences company, announced today that it has purchased $20 million worth of Bitcoin as part of a newly approved corporate treasury strategy. The company acquired 187.42 BTC at an average price of $106,712 and stated that its board has approved allocating the majority of its $117 million balance sheet to Bitcoin. This marks the first time a healthcare company has adopted a Bitcoin treasury strategy.
Financial Background and Strategic Transfer
Prior to the purchase, Prenetics completed a strategic transfer of ownership of ACT Genomics, which increased its pro-forma cash to approximately $66 million and total liquid assets, including BTC and short-term holdings, to around $117 million. CEO Danny Yeung stated, 'With our strengthened balance sheet of $117 million in cash, BTC and short-term assets, we now have the financial foundation to pioneer innovative treasury management approaches, including our historic Bitcoin treasury strategy.' The company reported a 336.5% year-over-year revenue increase in Q1 2025, operates three consumer health brands, and maintains a debt-free balance sheet.
Team and Advisors: Former OKEx COO and Industry Leaders Join
To advance the Bitcoin strategy, Prenetics appointed Andy Cheung, former COO of cryptocurrency exchange OKEx, to its Board of Directors. Cheung noted that the company's Bitcoin strategy will include active treasury management using derivatives and structured products. 'This isn't about passive Bitcoin storage,' said Cheung. 'We’re talking about dynamic treasury management using derivatives, yield strategies, and institutional-grade trading techniques.' Additionally, the company is working with two industry advisors: Tracy Hoyos Lopez, Chief of Staff at Kraken and a board member at the Bitcoin Advocacy Project, and Raphael Strauch, founder of crypto conference TOKEN2049. Prenetics plans to expand Bitcoin holdings through institutional capital partnerships, implement advanced return strategies, and accept Bitcoin payments across its direct-to-consumer platforms including IM8 Health and CircleDNA.
Long-Term Strategy, Not Short-Term Play
CEO Danny Yeung emphasized: 'This is not a short-term play or market timing decision. We are implementing a comprehensive, long-term Bitcoin strategy that we believe will fundamentally transform our company’s value proposition.' Prenetics' move demonstrates Bitcoin's growth potential within the healthcare sector, marking the expansion of this asset class beyond technology and finance into new industries.