David Beckham-backed Prenetics Ends Bitcoin Purchases to Focus on Consumer Health Brand
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Prenetics has halted its Bitcoin buyback program to focus on its successful consumer health brand IM8. The decision was approved by the Board of Directors, emphasizing the priority of shareholder value through the IM8 brand.
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Prenetics, a Nasdaq-listed healthcare company, announced Tuesday that it has halted Bitcoin acquisitions to focus solely on its consumer health brand IM8. The company maintains a bitcoin stash that has grown to 510 coins worth more than $45 million.
Co-founded by David Beckham, IM8 offers an all-in-one nutritional powder that replaces complex daily routines. Growing rapidly, the company hit $100 million in annual recurring revenue in 11 months and forecasts $180–200 million for fiscal year 2026.
Explaining the decision, CEO Danny Yeung said that since IM8's performance exceeded the company's initial forecasts, management unanimously stated that focusing resources on the product has the greatest potential to create lasting value.
“We are incredibly excited about the future of IM8 and are confident that we can focus our efforts and drive its growth to greater heights,” added Yung. “Working from a position of strength, we are making strategic strategic decisions that reflect our experience as operators and our commitment to maximizing long-term shareholder value.”
Prenetics will allocate capital to IM8's growth, including product innovation, brand building, talent acquisition and international expansion. The company currently holds more than $70 million in cash and cash equivalents.
The decision to pause Bitcoin stock comes at a moment when sentiment on crypto softens. Despite repeated reversals, Bitcoin continues to hover around $88,500 and has been struggling to reclaim the $100,000 ceiling for weeks.
The world's largest digital asset is now on track to finish 2025 in the red. Analysts widely expect 2026 to be more of a cooling phase than any other year, with limited near-term stimulus leading to larger price increases.
