Prenetics отказывается от биткоин-инвестиций в пользу быстрого роста своего велнес-бренда Headline: Prenetics Abandons Bitcoin Investments for Rapid Growth of Its Wellness Brand

Medical company Prenetics, backed by David Beckham, has abandoned its strategy of accumulating digital gold. This decision came less than three months after raising $48 million to build a cryptocurrency reserve.

Instead of investing in digital assets, the firm will focus on the development of its wellness brand IM8. The management referred to it as «the fastest-growing in the history of the industry.»

Among Prenetics’ investors, in addition to Beckham, were Kraken, Exodus, Jihan Wu’s GPTX project, and other funds.

Prenetics Global’s balance sheet still shows more than $70 million in cash and 510 BTC.

At the time of writing, Bitcoin is trading at $88,524 (+1.2%).

NASDAQ-listed company Cypherpunk has acquired an additional 56,418 ZEC. The transaction amounted to about $29 million at an average price of $514 per coin.

The total volume of the firm’s cryptocurrency reserves reached 290,062 ZEC, accounting for approximately 1.8% of the asset’s market supply.

The company continues to implement its plan to accumulate 5% of Zcash’s issuance. Investment Director Will MacEvoy explained that this strategy is driven by the increasing importance of financial privacy in today’s world.

Cypherpunk unveiled its corporate treasury strategy in November following the rebranding of the biotechnology firm Leap Therapeutics. The initiative was endorsed by Tyler and Cameron Winklevoss’s Winklevoss Capital, which invested over $50 million in the company.

The current price of ZEC stands at $522 (-1.9%).

It is worth recalling that in November, Bitwise’s Chief Investment Officer Matt Hougan pointed out the inefficiency of crypto treasuries.

In December, CoinShares researcher James Butterfill noted that the bubble of DAT companies had effectively deflated.

Later, representatives from the crypto industry forecasted the downfall of firms holding Bitcoin and Ethereum on their balance sheets.