Prenetics, Supported by Beckham, Shifts Focus from Bitcoin Strategy to Wellness Brand Development Translation: Prenetics, Supported by Beckham, Shifts Focus from Bitcoin Strategy to Wellness Brand Development

The medical firm Prenetics, backed by David Beckham, has halted its strategy of accumulating digital gold. This decision came less than three months after the company raised $48 million to build a cryptocurrency reserve.

Rather than focusing on purchasing digital assets, the company will shift its attention to the development of its wellness brand IM8. The management has described it as «the fastest-growing in the history of the industry.»

In addition to Beckham, investors in Prenetics include Kraken, Exodus, Jihan Wu’s GPTX project, and other funds.

Prenetics Global’s balance sheet shows over $70 million in cash and 510 BTC.

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

Cypherpunk, listed on Nasdaq, has acquired an additional 56,418 ZEC, with the transaction amounting to around $29 million at an average price of $514 per coin.

The company’s total crypto reserves have reached 290,062 ZEC, representing approximately 1.8% of the asset’s market supply.

Cypherpunk continues to execute its plan to accumulate 5% of Zcash’s issuance. Investment Director Will McEvoy explained this strategy by highlighting the growing importance of financial privacy in today’s world.

In November, Cypherpunk introduced its corporate treasury strategy following its rebranding from the biotech firm Leap Therapeutics. The initiative has been supported by Tyler and Cameron Winklevoss’s Winklevoss Capital, which has invested over $50 million in the company.

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

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

In December, CoinShares researcher James Butterfill noted that the bubble of DAT companies had effectively burst.

Later, representatives from the crypto industry predicted the collapse of firms holding Bitcoin and Ethereum on their balances.