Prenetics Global Limited, a well being sciences firm, introduced at this time that it has bought $20 million price of Bitcoin as a part of a newly permitted company treasury technique. The corporate acquired 187.42 BTC at a mean worth of $106,712 and acknowledged that its board has permitted allocating nearly all of its $117 million steadiness sheet to Bitcoin.
This follows the corporate’s strategic switch of possession of ACT Genomics, which elevated its pro-forma money to roughly $66 million and whole liquid property, together with BTC and short-term holdings, to round $117 million.
Based on a press launch despatched to Bitcoin Journal, Danny Yeung, CEO of Prenetics acknowledged, “With our strengthened steadiness sheet of $117 million in money, BTC and short-term property, we now have the monetary basis to pioneer revolutionary treasury administration approaches, together with our historic Bitcoin treasury technique.”
Prenetics additionally introduced the appointment of Andy Cheung, former COO of cryptocurrency change OKEx, to its Board of Administrators. Cheung famous that the corporate’s Bitcoin technique will embody lively treasury administration, utilizing instruments reminiscent of derivatives and structured merchandise.
“This isn’t about passive Bitcoin storage,” mentioned Cheung. “We’re speaking about dynamic treasury administration utilizing derivatives, yield methods, and institutional-grade buying and selling methods.”
Prenetics plans to develop its Bitcoin holdings via institutional capital partnerships and to implement superior return methods. It additionally plans to simply accept Bitcoin funds throughout its direct to client platforms, together with IM8 Well being and CircleDNA.
Along with Cheung, the corporate is working with two trade advisors, Tracy Hoyos Lopez, Chief of Workers at Kraken and a board member on the Bitcoin Advocacy Mission, and Raphael Strauch, founding father of crypto convention TOKEN2049.
“This isn’t a short-term play or market timing determination,” mentioned Yeung. “We’re implementing a complete, long-term Bitcoin technique that we consider will essentially rework our firm’s worth proposition.”
Prenetics reported robust current progress, together with a 336.5% 12 months over 12 months income enhance in Q1 2025. It now operates three client well being manufacturers and maintains a deb free steadiness sheet.
Prenetics’ technique reveals Bitcoin’s great growth and potential. However this time, from inside the healthcare sector.
