{"id":92804,"date":"2025-12-31T10:11:06","date_gmt":"2025-12-31T07:11:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=92804"},"modified":"2025-12-31T10:15:14","modified_gmt":"2025-12-31T07:15:14","slug":"beckham-backed-prenetics-abandons-bitcoin-strategy-for-wellness-brand","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/beckham-backed-prenetics-abandons-bitcoin-strategy-for-wellness-brand\/","title":{"rendered":"Beckham-Backed Prenetics Abandons Bitcoin Strategy for Wellness Brand"},"content":{"rendered":"

The medical company Prenetics, supported by David Beckham, has abandoned<\/a> its strategy of accumulating digital gold. This decision comes less than three months after raising $48 million<\/a> to form a crypto reserve.<\/p>\n

Instead of purchasing digital assets, the firm will focus on developing the wellness brand<\/span> IM8. Management has described it as “the fastest-growing in the industry’s history.”<\/p>\n

Among Prenetics’ investors, besides Beckham, are Kraken, Exodus, Jihan Wu’s GPTX project, and other funds.<\/p>\n

Prenetics Global still holds over $70 million in cash and 510 BTC.<\/p>\n

At the time of writing, Bitcoin is trading at $88,524 (+1.2%).<\/p>\n

\"BTCUSDT_2025-12-31_09-48-41\"
Hourly chart of BTC\/USDT on Binance. Source: TradingView<\/a>.<\/figcaption><\/figure>\n

Cypherpunk Accumulates<\/h2>\n

Nasdaq-listed company Cypherpunk has acquired<\/a> an additional 56,418 ZEC. The transaction amounted to approximately $29 million at an average price of $514 per coin.<\/p>\n

The total volume of the firm’s crypto reserves has reached 290,062 ZEC \u2014 about 1.8% of the asset’s market supply.<\/p>\n

The company continues its plan to accumulate 5% of Zcash’s issuance. Chief Investment Officer Will McEvoy explained this strategy as a response to the growing importance of financial privacy in today’s world.<\/p>\n

Cypherpunk unveiled its corporate treasury strategy in November following the rebranding of biotech firm Leap Therapeutics. The initiative was supported<\/a> by Tyler and Cameron Winklevoss’s Winklevoss Capital, which invested over $50 million in the company.<\/p>\n

The ZEC<\/a> price stands at $522 (-1.9%).<\/p>\n

\"ZECUSDT_2025-12-31_09-51-19\"
Hourly chart of BTC\/USDT on Binance. Source: TradingView<\/a>.<\/figcaption><\/figure>\n

Back in November, Bitwise’s Chief Investment Officer Matt Hougan highlighted<\/a> the inefficiency of crypto treasuries.<\/p>\n

In December, CoinShares researcher James Butterfill noted<\/a> that the bubble of DAT<\/span> companies had effectively burst.<\/p>\n

Later, industry representatives predicted<\/a> the collapse of firms holding Bitcoin and Ethereum on their balance sheets.<\/p>\n","protected":false},"excerpt":{"rendered":"

The medical company Prenetics, supported by David Beckham, has abandoned its digital gold accumulation strategy.<\/p>\n","protected":false},"author":1,"featured_media":92805,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Prenetics, backed by Beckham, shifts focus from Bitcoin to wellness brand.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1473,202],"class_list":["post-92804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-reserve-currencies","tag-zcash"],"aioseo_notices":[],"amp_enabled":true,"views":"190","promo_type":"1","layout_type":"1","short_excerpt":"Prenetics, backed by Beckham, shifts focus from Bitcoin to wellness brand.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/92804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=92804"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/92804\/revisions"}],"predecessor-version":[{"id":92806,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/92804\/revisions\/92806"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/92805"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=92804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=92804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=92804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}