David Beckham–Backed Prenetics Pulls Back From BTC Treasury Strategy

What Changed in Prenetics’ BTC Plans?

Prenetics Global has dropped its plans to continue accumulating BTC, reversing course less than three months later than raising $48 million to assist build a crypto treasury. The Nasdaq-listed supplements company said Tuesday that it will no longer pursue future BTC acquisitions, marking a sharp pivot away from a strategy it publicly embraced in October.

At the time of the equity raise, Prenetics said the capital would be used to accelerate a BTC treasury strategy alongside expansion of its consumer health brand, IM8. The funding round was described as oversubscribed and drew backing from a mix of crypto-native firms and traditional investors, including Kraken, Exodus, GPTX by Jihan Wu, DL Holdings, American Ventures, and football star David Beckham.

Now, the company says its priorities have shifted. In a statement, Prenetics said it is realigning its resources to “fully capitalize on the rapid growth” of IM8, which it describes as the quickest-growing supplement brand in its category.

Investor Takeaway

Why Is the Company Refocusing on IM8?

The decision reflects a renewed emphasis on operating fundamentals rather than balance-sheet . Prenetics’ board and management said they believe the strongest path to lies in scaling IM8, rather than expanding BTC holdings.

“Our Board and management team unanimously agreed that the most promising path to creating significant, sustainable shareholder value is to devote our undivided attention to this once-in-a-generation opportunity clahead visible in IM8,” CEO and co-founder Danny Yeung said.

The move suggests internal concern that a dual-track strategy—building a consumer brand while also managing a volatile crypto treasury—could dilute focus at a time when execution matters most. While IM8’s growth claims remain company-provided, the pivot signals confidence that the supplements business offers a clearer revenue and margin profile than holding BTC through market cycles.

How Does Market Timing Factor Into the Decision?

Market conditions have shifted materially since Prenetics announced its BTC plans. When the October equity raise was disclosed, BTC was trading near $114,000. Since then, prices have slid to around $88,000, erasing a significant portion of paper value for recent corporate purchaviewrs.

While Prenetics did not explicitly link its decision to price moves, the timing places the reversal squarely within a broader pullback across crypto markets. Volatility has made treasury-style accumulation strategies harder to justify for companies whose primary businesses sit outside digital assets.

Prenetics said it still holds 510 BTC, alongside more than $70 million in cash and cash equivalents. The company did not say whether it plans to reduce its existing BTC position or simply halt further purchases.

Investor Takeaway

Is Prenetics an Isolated Case?

The reversal is part of a wider trend among companies that adopted during stronger market conditions. As prices cooled, several firms have reassessed whether holding volatile tokens aligns with their core mandates.

Earlier this month, ETH-focused treasury firm ETHZilla, backed by Peter Thiel, said it would pivot away from stockpiling ether and instead strategy. Other companies have chosen a diverse route altogether, opting for share purchasebacks or cash preservation rather than continued crypto exposure.

These shifts suggest that while corporate interest in remains, appetite for outright balance-sheet accumulation of cryptocurrencies is becoming more selective. Companies without direct operational ties to crypto markets appear more likely to retreat when volatility resurfaces.

What Does This Say About Corporate Crypto Strategies?

Prenetics’ decision underscores a growing divide between firms that treat crypto as a strategic operating layer and those that view it primarily as a treasury asset. For the latter group, exposure is increasingly conditional on price momentum and investor sentiment.

In Prenetics’ case, the return to a single-core focus may appeal to shareholders who prefer predictable business execution over speculative balance-sheet bets. At the identical time, the company remains exposed to BTC through its existing holdings, leaving room for future reassessment if market conditions or strategy change again.