Healthcare firm Prenetics, advised by Trump bitcoin advocate, adopts treasury strategy with $20 million BTC buy

Inspired by Strategy's over $60 billion bitcoin holdings and Metaplanet's treasury transformation, Nasdaq-listed health sciences firm Prenetics Global has become the latest to join the corporate bitcoin accumulation race, acquiring $20 million worth of BTC.Prenetics, which claims to be the first healthcare company to establish a bitcoin treasury, completed the 187.42 BTC purchase at an average price of $106,712 per bitcoin via a Kraken custody account, according to a statement shared with The Block. The announcement follows the company's divestment of ACT Genomics earlier on Wednesday, which increased Prenetics' total pro forma cash, bitcoin, and short-term assets to about $117 million, enabling the firm to execute a comprehensive bitcoin strategy, it said."The ACT Genomics divestiture has transformed our financial position and simplified our business model," Prenetics CEO Danny Yeung said. "With our strengthened balance sheet of $117 million in cash, BTC and short-term assets, we now have the financial foundation to pioneer innovative treasury management approaches, including our historic bitcoin treasury strategy. But this is just the beginning — we have the capital partnerships and conviction to build one of the most significant Bitcoin treasuries in healthcare.""What excites me most is not just bitcoin as a treasury asset, but the convergence we're witnessing between healthcare innovation and blockchain technology," Yeung continued. "We're at the dawn of a new era where genomics, personalized medicine, and digital assets will intersect in ways that could revolutionize how we approach human health, longevity, and wealth."Prenetics also announced the appointment of former OKX COO Andy Cheung to its board of directors, bringing in crypto industry experience to help guide its long-term bitcoin strategy. The board has approved allocating most of the company's balance sheet to bitcoin and plans to significantly grow its holdings, aiming to become a leading healthcare bitcoin holder."Having worked with Danny at Groupon Asia over a decade ago, I saw firsthand his ability to execute transformational strategies," Cheung said. "I'm incredibly excited about the opportunity to contribute my crypto expertise to this pioneering healthcare bitcoin strategy. I already have numerous ideas on accumulation strategies and alpha-generating approaches that can significantly outperform simple buy-and-hold tactics. This isn't about passive bitcoin storage — we're talking about dynamic treasury management using derivatives, yield strategies, and institutional-grade trading techniques I've refined through managing billions in crypto exchange operations."Trump bitcoin architect and TOKEN2049 founder join Prenetics' advisory teamTracy Hoyos Lopez, Chief of Staff for Strategic Initiatives at Kraken and a board member of the Bitcoin Advocacy Project, has also joined Prenetics as an advisor. A former prosecutor, she gained attention for helping introduce President Donald Trump to Bitcoin, alongside advocates including David Bailey and Amanda Fabiano, orchestrating his Nashville Bitcoin conference speech and playing a key role in campaign fundraising. She brings extensive legal, political, and regulatory expertise to help Prenetics navigate its corporate bitcoin adoption."After successfully guiding President Trump's Bitcoin advocacy and seeing the regulatory environment strengthen globally, Prenetics' comprehensive Bitcoin strategy, now bolstered by their strengthened financial position, positions the company to benefit immensely from accelerating institutional adoption," Hoyos Lopez said. "Danny's ambition is large — he's not just building a bitcoin treasury, he's architecting the future intersection of healthcare and digital assets."TOKEN2049 and Alice Capital founder Raphael Strauch has also joined Prenetics' advisory team, offering broad access to the global crypto community and institutional investment experience, having built a key platform for industry leaders and investors."Through TOKEN2049, I've witnessed the evolution of institutional crypto adoption firsthand. And I'm incredibly excited to be part of Prenetics' journey," Strauch said. "Their comprehensive long-term bitcoin strategy, represents the kind of bold, systematic, and expertly-governed approach that separates true industry leaders from followers. Their inspiration from MicroStrategy and Metaplanet, combined with their unique healthcare focus, positions them as a definitive pioneer in what I believe will be the next wave of corporate bitcoin adoption.""This is not a short-term play or market timing decision," Yeung said. "We are implementing a comprehensive, long-term bitcoin strategy that we believe will fundamentally transform our company's value proposition. We see bitcoin as the superior treasury asset for the digital age, and our board's approval to allocate the majority of our balance sheet reflects our conviction in this long-term vision."Hong Kong and U.S.-based Prenetics has a market capitalization of $97.9 million, $66 million in cash reserves, and a debt-free balance sheet, according to the firm. Prenetics' consumer healthcare business generated Q1 revenue of $14.4 million, representing a 336.5% increase year-over-year, with full-year 2025 revenue guidance between $80 million and $100 million. Prenetics' stock is currently up 8.5% in pre-market trading on Wednesday, having gained over 7% on Tuesday, according to .Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. 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