Prenetics Spends $11 Million to Add 100 Bitcoin to Treasury
Prenetics purchased 100 Bitcoin for $11 million, increasing its total holdings to 378 BTC, valued around $41 million.Summary
Prenetics Global Limited announced the acquisition of 100 Bitcoin at an average price of $109,594, bringing its total treasury holdings to 378 BTC, valued at approximately $41 million. This purchase followed a recent $44 million oversubscribed equity offering involving strategic investors like Kraken and Aryna Sabalenka. CEO Danny Yeung stated this move executes their strategic vision, which balances scaling their wellness brand IM8 with long-term Bitcoin accumulation. Following these actions, Prenetics maintains $127 million in total liquidity with no debt. The company continues a disciplined plan of purchasing one Bitcoin daily, supplemented by larger opportunistic buys. Prenetics, which became the first healthcare firm to adopt a Bitcoin treasury strategy earlier this year, aims to achieve $1 billion in annual revenue and $1 billion in Bitcoin holdings within five years.
(Source：Bitcoin Magazine)