David Beckham-backed Prenetics will no longer buy Bitcoin.

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Suja Sunderarajan

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Suja Sunderarajan

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June 2023

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Suja was recognized by BeInCrypto 🟣 Women in Crypto 2024 🟣 for her leadership in crypto journalism.

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Last Updated:

December 30, 2026

Prenetics Global, a health science firm backed by soccer legend David Beckham, has stopped stocking bitcoins since December 4. With a current stock of 510 BTC, a valuation of $45 million and other funds, the company has turned its attention to nutritional supplement brand IM8.

Announced Tuesday, Prenetics' board unanimously agreed that investing in a “once-in-a-generation” brand like IM8 is the “most promising” way to create sustainable shareholder value.

“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,” said CEO Danny Yeung.

Buy Prenetics ‘1 BTC per day' strategy

Prenetics launched its “1 BTC per day” treasury plan on August 1st, accumulating around 275 BTC positions as of October 27th, roughly $31 million.

In October, the Nasdaq-listed company, which counts David Beckham among its shareholders, raised $48 million in a subscribed equity round to buy more bitcoins.

At the time, Prenetics' long-term goal was to reach $1 billion in Bitcoin holdings within five years.

Additionally, the IM8 brand has already hit $100 million in recurring revenue in its first 11 months, taking the company's focus away from its bitcoin hoarding strategy. IM8 is expected to generate between $160 million and $200 million in revenue by 2026.

Prenetics will maintain existing BTC holdings as a treasury, the announcement added.

“Prenetics has decided not to allocate any existing capital or new capital to acquire additional bitcoins,” it read.

Additionally, as Bitcoin has entered a bear market in recent months, many digital asset treasury (DT) companies that once aimed to lure BTC hoarding investors have shifted their focus. For example, Peter Thiel-backed Ethereum treasury ETZilla sold $74.5 million worth of ETH and shut down its crypto treasury earlier this month.

PRE decreased by 3.5% in one day

Following the announcement, shares of Prenetics ( PRE ) fell 3.5 percent on the day, trading at $15.74 at press time, according to Yahoo Finance.

However, the company's shares have increased by 189% this year, and Bitcoin has fallen to 5.6%. Meanwhile, Michael Saylor's MSTR, the largest corporate bitcoin holding, has fallen 48% this year.