Prenetics, the health sciences company linked to David Beckham, announced this October 27th that it has secured $46.8 million. These funds will be used to expand its Bitcoin treasury strategy. According to the company, it seeks to consolidate the majority of its balance sheet in the market’s main crypto asset.
This new capital injection follows a previous $20 million investment made on June 18th. On that date, the firm acquired 187.42 BTC at an average price of $106,712 per unit. The assets remain under the custody of the Kraken exchange. Prenetics’ management reports a solid financial position. They hold $117 million in liquid assets and $66 million in cash, with no debt.
Prenetics will not just accumulate Bitcoin; it plans to actively generate yield. This includes lending, using collateral, and structured products. To strengthen its governance, they have brought on crypto veterans. Among them are Andy Cheung (formerly of OKEx) and Raphael Strauch (TOKEN2049). Furthermore, the company is exploring accepting crypto payments on its IM8 Health and CircleDNA platforms. This move could attract new users. It is a strong bet among companies in the health sector.
Is Prenetics taking an excessive risk by betting its balance sheet on Bitcoin?
By concentrating its balance sheet in BTC, the firm assumes the asset’s inherent volatility. This demands disciplined risk management. However, the absence of debt provides an operational cushion. The strengthening of the team suggests robust oversight of the treasury policy. Enabling cryptocurrency payments may boost adoption among its customers. Danny Yeung, CEO, stated he is excited about “the convergence of healthcare innovation and blockchain technology.”
The Bitcoin treasury strategy is advancing alongside commercial growth. Its IM8 Health platform exceeds $50 million in annual recurring revenue. Prenetics raised its 2025 revenue forecast to a range of $80-$100 million. The firm expects to achieve profitability in the fourth quarter of this year. They are confident in the traction of their direct-to-consumer platforms to achieve this.
