- Prenetics Global Limited has made its first investment in Bitcoin, purchasing $20 million worth of the cryptocurrency.
- The purchase follows the strategy used by MicroStrategy, which is known for large-scale bitcoin accumulation.
- Prenetics’ board has approved plans to significantly increase its bitcoin holdings in the future.
- The company highlighted the growing connection between healthcare technology and blockchain innovation.
- Prenetics has appointed Andy Cheung, former COO of OKEx, to its Board of Directors.
Prenetics Global Limited (NASDAQ: PRE) announced it has acquired $20 million in bitcoin for its corporate treasury. The healthcare company stated that the transaction, supported by global crypto exchange Kraken, marks its first move into digital asset investment and mirrors strategies already seen at major firms like MicroStrategy.
According to an official statement on Wednesday, Prenetics received board approval to further increase its bitcoin holdings. The company aims to establish itself as one of the largest healthcare sector holders of bitcoin worldwide.
“What excites me most is not just Bitcoin as a treasury asset, but the convergence we’re witnessing between healthcare innovation and blockchain technology,” said Danny Yeung, CEO of Prenetics. He added, “We’re at the dawn of a new era where genomics, personalized medicine, and digital assets will intersect in ways that could revolutionize how we approach human health, longevity and wealth.”
Companies are increasingly adding bitcoin to their corporate reserves, following models set by treasury-focused strategy leaders. Earlier this week, Swedish health-technology firm H100 Group revealed it had completed a $79 million bitcoin transaction to support its own digital asset treasury strategy.
Additionally, Prenetics reported that Andy Cheung, previously the chief operating officer at crypto exchange OKEx, has joined the company’s Board of Directors.
For more on companies with significant bitcoin holdings, see Trump Media and Semler Scientific Could Be Cheapest Bitcoin Treasury Companies by This Metric.
The company stated that its move reflects a trend among treasury management teams seeking exposure to digital assets. While its purchase is smaller in scale compared to hundreds of millions invested by some firms, Prenetics indicated plans to expand bitcoin reserves as part of innovation in healthcare and blockchain.
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