David Beckham-backed Prenetics Global Ceases Bitcoin Accumulation Amid Strategic Shift
Prenetics Global, a healthcare firm backed by footballer David Beckham, announced on December 4 that it will no longer buy Bitcoin. The company currently holds 510 BTC, valued at approximately $45 million, which it will keep as treasury reserve assets but will not use funds to acquire additional Bitcoin.
The firm initially launched a “1 BTC per day” treasury plan on August 1 and had accumulated about 275 BTC (roughly $31 million) by October 27, with an ambitious target of reaching $1 billion in Bitcoin holdings within five years. In October, Prenetics raised $48 million in an oversubscribed equity round aimed at purchasing more Bitcoin.
However, the board has unanimously approved a strategic pivot to focus on the IM8 nutrition brand. This brand is projected to generate between $160 million and $200 million in revenue in 2026 and achieved $100 million in recurring revenue within its first 11 months.
David Beckham remains one of the company’s shareholders. Following the announcement, Prenetics' stock (PRE) fell about 3.5% to around $15.74, while Bitcoin declined roughly 5.6% during the same period. Despite this, PRE stock has surged 189% this year.
This move by Prenetics reflects a broader trend among firms with digital-asset treasuries moving away from Bitcoin. For example, ETHZilla recently sold $74.5 million worth of ETH as part of a similar shift.
