Игрушечный бум: Prenetics отказывается от биткоинов ради превращения в велнес-бренд Translation: Toy Boom: Prenetics Abandons Bitcoin in Favor of Transforming into a Wellness Brand

The medical company Prenetics, backed by David Beckham, has discontinued its strategy for accumulating digital gold. This decision came less than three months after securing $48 million to build its cryptocurrency reserves.

Rather than investing in digital assets, the company will now focus on the development of its wellness brand IM8, which leadership has described as «the fastest-growing in the history of the industry.»

Among Prenetics’ investors, aside from Beckham, are Kraken, Exodus, the project of Jihan Wu GPTX, and several other funds.

Prenetics Global currently holds more than $70 million in cash and 510 BTC on its balance sheet.

At the time of writing, Bitcoin is trading at $88,524 (+1.2%).

The publicly traded company Cypherpunk acquired an additional 56,418 ZEC, with the transaction valued at approximately $29 million and an average price of $514 per coin.

The total value of the firm’s crypto reserves has reached 290,062 ZEC, which constitutes around 1.8% of the asset’s market supply.

The company is continuing its plan to accumulate 5% of the Zcash issuance. Investment Director Will McAvoy explained this strategy as a response to the growing importance of financial privacy in today’s world.

Cypherpunk introduced a corporate treasury strategy in November following the rebranding of the biotechnology firm Leap Therapeutics. The initiative was supported by Tyler and Cameron Winklevoss’s Winklevoss Capital, which has invested over $50 million in the company.

The current price of ZEC is $522 (-1.9%).

It is worth noting that in November, Bitwise’s Chief Investment Officer Matt Hougan pointed out the inefficacy of crypto treasuries.

In December, CoinShares researcher James Butterfill observed that the bubble surrounding DAT firms has effectively burst.

Later, representatives of the crypto industry forecasted the collapse of firms holding Bitcoin and Ethereum on their balance sheets.