TL;DR
- Prenetics acquired 187.42 BTC for $20 million after selling ACT Genomics, boosting its total liquidity to $117 million in cash, BTC, and liquid assets.
- Andy Cheung, former OKX COO, joined the board to design active strategies using derivatives and yield mechanisms on BTC, moving beyond simple buy & hold.
- Tracy Hoyos Lopez and Raphael Strauch joined as advisors, bringing regulatory expertise, institutional connections, and access to crypto capital.
Prenetics, the Nasdaq-listed biotech firm, announced the purchase of 187.42 Bitcoins for $20 million as part of a strategy to turn BTC into a core treasury asset.
The transaction was executed through a custody account on Kraken, at an average price of $106,712 per unit. The deal followed the company’s divestment of ACT Genomics, which raised its total position in cash, BTC, and other short-term assets to $117 million.
The company claims to be the first in the healthcare sector to adopt a formal corporate Bitcoin accumulation policy. According to Prenetics CEO Danny Yeung, the goal is to leverage its current financial strength to develop a treasury management strategy based on digital assets. He also plans to integrate blockchain technology with advancements in genomics and personalized medicine, anticipating a convergence between healthcare and digital assets.
Prenetics Follows the Model of Strategy and Metaplanet
To execute this plan, Prenetics added Andy Cheung, former COO of OKX, to its board. Cheung brings experience in crypto markets and high-volume operations management. He plans to implement dynamic accumulation tactics, derivative strategies, and yield approaches that outperform simple BTC storage.
The advisory team also expanded with Tracy Hoyos Lopez, a strategist at Kraken known for her role in bringing Donald Trump closer to the Bitcoin ecosystem. With a background in law and public policy, she will support regulatory matters and institutional digital asset adoption within the company.
Additionally, Raphael Strauch, founder of TOKEN2049 and Alice Capital, joined as an advisor. His involvement aims to strengthen access to institutional capital and expand crypto community connections globally.
Prenetics follows the path of companies like Strategy and Metaplanet but with a focus on the medical industry. The firm, headquartered in Hong Kong and the United States, holds a market capitalization of $97.9 million and $66 million in cash, with no debt. In the first quarter of 2025, its healthcare business generated $14.4 million in revenue, marking a 336.5% year-over-year increase. Following these announcements, its stock rose 8.5% in pre-market trading, continuing the previous day’s upward trend.
