Prenetics Global Limited (NASDAQ: PRE) announced on Wednesday that it has invested $20 million in Bitcoin (BTC) as part of a newly adopted long-term cryptocurrency strategy. The company acquired 187.42 BTC at an average price of $106,712 per coin. The purchase was made via a custody account with Kraken, a leading cryptocurrency exchange.
This major investment in Bitcoin follows a series of recent divestitures that significantly bolstered Prenetics’ financial standing. As a result of these moves, the company’s pro-forma cash position has grown to approximately $66 million. When combined with its Bitcoin holdings and other short-term assets, the total rises to an estimated $117 million.
The Bitcoin acquisition aligns with a broader, board-approved strategy that reflects Prenetics’ forward-looking positioning toward digital assets. Further details regarding the comprehensive Bitcoin strategy and long-term vision are expected to be outlined in future communications by the company.
Prenetics, a diagnostics and genetic testing company, appears to be diversifying its holdings and seeking new avenues for capital growth and asset management amid evolving global financial landscapes.
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