Latest news with #Prenetics
Yahoo
8 hours ago
- Business
- Yahoo
Healthcare Firm Prenetics Uses Kraken to Kickoff Bitcoin Treasury
Prenetics Global Limited (NASDAQ: PRE) is the latest firm in the healthcare space to copy MicroStrategy's $40 billion bitcoin treasury strategy, having acquired its first $20 million BTC investment, with help from global crypto exchange Kraken. There is a surge of bitcoin treasury companies that focus on accumulating bitcoin and following strategies similar to Strategy. Although the Prenetics acquisition is small by comparison to firms spending hundreds of millions of dollars on BTC, the firm said it has board approval to substantially increase its bitcoin holdings and aims to become one of the largest healthcare corporate bitcoin holders globally, in a press statement on Wednesday. '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. '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.' Earlier this week, H100 Group (H100), a Swedish health-technology company, announced a 750 million kronor ($79 million) transaction to support its long-term bitcoin BTC treasury strategy. Prenetics also announced the appointment of Andy Cheung, former COO of OKEx, to its Board of Directors.
Yahoo
16 hours ago
- Business
- Yahoo
Prenetics Acquires $20 Million In Bitcoin To Boost Healthcare Bitcoin Treasury Strategy
Prenetics Global Limited (NASDAQ:PRE) announced on Wednesday that it had completed a $20 million in Bitcoin (CRYPTO: BTC/USD) purchase of 187.42 BTC at an average price of $106,712 per Bitcoin via a Kraken custody account. The move follows divestitures that strengthened Prenetics' pro-forma cash to approximately $66 million and Pro-forma cash, BTC and short-term assets to roughly $117 million. The comprehensive long-term Bitcoin strategy, approved by its Board of Directors, includes board approval to allocate most of the company's balance sheet to Bitcoin, implement an alpha-generating strategy, and institutional discussions for expanded Bitcoin plans to increase its Bitcoin holdings substantially and aims to become one of the largest healthcare corporate Bitcoin holders globally. Prenetics also announced the appointment of Andy Cheung, former COO of OKEx, to its Board of Directors. Mr. Cheung, former COO of OKEx (now one of the world's top-3 cryptocurrency exchanges) and current Co-Founder & CEO of both OEX and PredicXion, brings a decade of crypto exchange operations expertise, managing billions in daily trading volume. Prenetics' Bitcoin initiative extends far beyond a simple treasury allocation. It represents a comprehensive long-term digital asset strategy directly inspired by successful corporate Bitcoin adopters like MicroStrategy and Metaplanet, who have demonstrated Bitcoin's transformative potential as a superior treasury asset. The Board has approved allocating most of Prenetics' balance sheet to Bitcoin. The company is actively discussing with leading financial institutions to develop a comprehensive long-term Bitcoin acquisition plan. The company said it will implement sophisticated alpha-generating strategies, including yield generation, strategic collateralization, and structured products, to maximize returns on its Bitcoin holdings. Prenetics will soon accept cryptocurrency payments across both of its direct-to-consumer platforms, including IM8 Health and CircleDNA, creating a Bitcoin ecosystem from treasury to operations. The company said it views Bitcoin not as a speculative investment but as a fundamental transformation of corporate treasury management for the digital age. Price Action: PRE stock closed higher by 7.13% at $7.51 on Tuesday. Read Next:Photo by Paopano via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? PRENETICS GLOBAL (PRE): Free Stock Analysis Report This article Prenetics Acquires $20 Million In Bitcoin To Boost Healthcare Bitcoin Treasury Strategy originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
