When most healthcare companies discuss digital transformation, they typically mean electronic medical records or telemedicine platforms.
But for Prenetics Global Limited, a publicly-traded health sciences firm, going digital meant something entirely next level: a $20 million Bitcoin treasury strategy that adds its name to a growing list of companies adopting a Bitcoin acquisition strategy.
The Nasdaq-listed genomics and digital health company disclosed Wednesday that it has acquired 187.42 BTC at an average price of $106,712 using Kraken's custody platform. The purchase represents the beginning of what Prenetics calls a "comprehensive" Bitcoin strategy approved by its board, with plans for substantial future expansion.
In a statement, the firm said the investment forms part of a plan for "the dawn of a new era" in which domains such as genomics, personalized medicine, and digital assets will "will intersect in ways that could revolutionize" how we think about health, wealth, and longevity, Prenetics CEO Danny Yeung said in a statement.
Beyond its treasury strategy, Prenetics plans to explore yield generation through crypto lending and structured products using institutional-grade tools. The company will also accept Bitcoin payments across its consumer health brands, creating an integrated ecosystem from treasury management to customer transactions.
The company recently raised its full-year 2025 revenue guidance to $80-$100 million, projecting profitability by Q4. Its stock (NASDAQ : PRE) surged 23.3% on the day Wednesday trading at $9.26 after its announcement.
Orange-pilled
To guide the initiative, Prenetics recruited former OKEx chief operating officer Andy Cheung to its board. Cheung previously helped oversee billions in daily crypto trading volume at one of the world's largest exchanges.
Tracy Hoyos-López, chief of staff for strategic initiatives at Kraken, has joined the firm as an advisor, helping to guide Prenetics as it adopts the Bitcoin treasury playbook deployed by firms including Strategy and Metaplanet.
Hoyos-López was one of three people pivotal to making President Donald Trump "orange-pilled" by bringing him to speak at the Bitcoin conference in Nashville last year.
At the conference, Trump promised to establish a "strategic BTC stockpile." In March, the president signed an executive order to establish a strategic reserve "capitalized with Bitcoin owned by the federal government," according to a statement from AI and crypto czar David Sacks.
Hoyos-López fiercely advocated for Trump, who at the time faced Kamala Harris for the presidency. “Our industry as a whole will cease to exist if Trump doesn’t win,” Hoyos-López said at the time, per a report from CNBC.
Decrypt reached out to Prenetics for comment on Hoyos-López’ appointment.
Edited by Stephen Graves
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