Prenetics Shifts Strategy as the health sciences company, backed and co-founded by English football icon David Beckham, moves away from purchasing bitcoin in its treasury plan. The decision, driven by prolonged weakness in the cryptocurrency market, highlights a sharper focus on the firm’s rapidly expanding supplements business, IM8.
Earlier this year, Prenetics raised $48 million, with part of the capital initially earmarked for a bitcoin reserve. While the approach mirrored other companies that held cryptocurrency on their balance sheets as a long-term asset, Prenetics Shifts Strategy in response to changing market conditions and internal growth priorities, redirecting its focus toward core business objectives.
The company confirmed that it halted bitcoin purchases on December 4 and will no longer allocate new or existing capital toward acquiring additional cryptocurrency. Instead, resources will now be directed entirely toward scaling IM8, which has quickly become the company’s primary growth engine.
The decision highlights how businesses are reassessing capital allocation strategies as market dynamics evolve. For entrepreneurs and business owners, it offers a clear example of how focus can shift when a core product outperforms expectations.
Bitcoin Strategy Paused Amid Market Weakness
Prenetics Shifts Strategy after launching its bitcoin accumulation plan in June, a move that initially aligned with stronger crypto market sentiment. The approach aimed to gradually build a sizable bitcoin reserve through capital raises, while simultaneously advancing the company’s health-focused operations.
That approach gained attention earlier in the year as digital asset prices climbed. However, enthusiasm cooled after a sharp market downturn in October. As volatility increased and market capitalization declined, companies holding crypto assets faced greater uncertainty around valuation and timing.
While Prenetics has stopped buying bitcoin, it has not exited its existing position. The company continues to hold 510 bitcoin as a reserve asset, valued at close to $45 million based on recent market prices. Management described this holding as a long-term reserve rather than an active investment focus.
By pausing further purchases, Prenetics aims to reduce exposure to short-term market swings while preserving balance sheet flexibility.
IM8 Emerges as the Primary Growth Driver
The shift away from bitcoin is closely tied to the rapid growth of Prenetics’ IM8 supplements business. Launched less than a year ago, IM8 has already generated more than $100 million in annualized recurring revenue, exceeding internal expectations.
Management stated that IM8 scaled faster than anticipated, creating a clear opportunity to build a global consumer health brand. Expanding production, distribution, and marketing now requires focused capital deployment and operational attention.
The company believes that dedicating resources to IM8 offers a more predictable and scalable path to long-term value creation. Unlike cryptocurrency markets, which are influenced by external volatility, the supplements business allows for direct control over product development, customer engagement, and revenue growth.
For business leaders, the move underscores the importance of backing proven revenue streams rather than spreading capital across unrelated strategies.
Financial Performance and Market Context
Prenetics’ shares have performed strongly this year, rising sharply despite broader market pressures. This performance contrasts with declines seen in some crypto-focused companies and highlights investor interest in businesses with clear operating momentum.
The company emphasized that its decision was driven by operational performance rather than short-term market sentiment. By retaining its existing bitcoin holdings while ending further accumulation, Prenetics is balancing optionality with discipline.
Prenetics Shifts Strategy to position itself as a focused health sciences operator rather than a hybrid business balancing operations with a crypto treasury. For entrepreneurs, the lesson is clear: capital strategies must remain flexible, and leadership teams should act swiftly when core businesses exceed expectations.
As Prenetics moves forward, its success will likely be judged on how effectively it scales IM8 and converts early momentum into sustained growth. The decision to step back from bitcoin purchasing reflects a broader business principle. Focus follows results.
