Prenetics suspends Bitcoin plan, UK-based entrepreneur bets on IM8 business development

Prenetics Group announced a major strategic adjustment in December—this technology company supported by British football legend David Beckham has decided to suspend its Bitcoin purchasing plan. The decision marks a shift from a diversified asset strategy to focusing on core business, reflecting the profound impact of cryptocurrency market volatility on emerging tech companies.

From Active Bitcoin Accumulation to Strategic Contraction

Prenetics launched its Bitcoin accumulation strategy in June 2025, adopting the corporate asset reserve model championed by MicroStrategy led by Michael Saylor. This strategy was quite attractive at the time—in a rising Bitcoin price environment, more and more companies followed suit, incorporating cryptocurrencies into their corporate treasury.

However, drastic changes in the market environment rewrote the prospects of this plan. In October 2025, the market experienced a significant decline, diminishing the appeal of crypto assets. On October 27 of that year, Prenetics announced the completion of a new round of financing, with participants including well-known exchange Kraken, crypto wallet project Exodus (EXOD), GPTX, and American Ventures. The initial purpose of this financing was to support the company’s continued goal of purchasing one Bitcoin daily. But on December 4, the company’s leadership made a completely different decision.

December Turning Point: IM8’s Extraordinary Growth Reshapes Priorities

Prenetics CEO and co-founder Dennying Young announced the core reason for this shift in early December—the performance of IM8 exceeded expectations. As the company’s healthcare subsidiary, IM8 achieved over $100 million in annual recurring revenue (ARR) just 11 months after launch, becoming a new growth driver for the company.

Young stated in an official announcement: “IM8’s outstanding performance has surpassed all internal expectations, with growth trajectory far faster than our initial plan.” After a unanimous assessment, the board and management concluded that concentrating all corporate resources on IM8’s high-growth opportunity is the best path to create sustainable value for shareholders.

Continuing to Hold Rather Than Add

It is worth noting that Prenetics has not completely exited the Bitcoin market. The company still holds the previously purchased 510 Bitcoins, which, as of the announcement, had a market value of approximately $45 million. These Bitcoins will be retained as part of the company’s long-term strategic reserves, and no further incremental purchases or capital allocations will be made.

This decision reflects a pragmatic attitude in resource allocation—recognizing the value of previous investments while redirecting limited capital toward higher-return business opportunities.

Market Response and Annual Performance

Following this announcement, Prenetics’s stock performed well in 2025, rising 189% for the year, indicating investor confidence in the company’s strategic shift. In contrast, MicroStrategy (MSTR), which also adopted a Bitcoin accumulation strategy, declined nearly 48% in 2025, while Bitcoin itself fell about 5.6%.

Prenetics’s choice highlights the company’s willingness to bet on proven growth opportunities amid uncertain crypto markets. As IM8 continues its rapid expansion, this UK-backed tech company seems to have found its position in the current economic cycle—no longer seeking to rapidly replicate Silicon Valley’s crypto narrative, but instead focusing on building a predictable revenue base and long-term competitiveness.