Prenetics Terminates $48M Bitcoin Acquisition Plan, Focuses on IM8 Supplements
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Dec 31 2025- Strategic Shift: Prenetics has terminated its Bitcoin acquisition plan less than three months after securing $48 million, opting to focus entirely on its IM8 supplements brand, reflecting a strong commitment to the health sciences sector.
- Funding Sources: The company raised capital in October through an oversubscribed equity round attracting investors like Kraken and David Beckham, aimed at supporting both Bitcoin and IM8 expansion, but has now chosen to concentrate on the latter.
- Financial Position: Prenetics currently holds 510 Bitcoin and over $70 million in cash and equivalents, and despite Bitcoin's price drop from $114,000 to approximately $88,000, the company retains Bitcoin as a reserve asset.
- Market Reaction: While Bitcoin's price fell about 23% during the strategy reversal, Prenetics' stock surged 189% this year, indicating market recognition of the growth potential of its IM8 brand.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
