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Health sciences company Prenetics Global Limited has entered the crypto world by purchasing $20 million in Bitcoin as part of its new treasury strategy. The company acquired 187.42 BTC at an average price of $106,712 and aims to allocate most of its $117 million balance sheet into Bitcoin. This shift follows a major ownership transfer of ACT Genomics boosting its liquid assets to \$117 million.
CEO Danny Yeung said the company now has the financial strength to adopt bold treasury strategies using Bitcoin. Prenetics also appointed Andy Cheung former COO of crypto exchange OKEx to its board. Cheung emphasized that the company will use active strategies like derivatives and structured products to manage its Bitcoin holdings rather than just holding the asset.
Plans include expanding Bitcoin holdings through institutional partnerships and allowing Bitcoin payments for its consumer health brands including IM8 Health and CircleDNA. With a 336% year-over-year revenue jump in Q1 2025 Prenetics is showing how crypto can play a key role in health sector growth.
