Healthcare Firm Prenetics Uses Kraken to Kickoff Bitcoin Treasury

Prenetics Global Limited (NASDAQ: PRE) is the latest firm in the healthcare space to copy MicroStrategy’s $40 billion bitcoin treasury strategy, having acquired its first $20 million BTC investment, with help from global crypto exchange Kraken.

There is a surge of bitcoin treasury companies that focus on accumulating bitcoin and following strategies similar to Strategy.

Although the Prenetics acquisition is small by comparison to firms spending hundreds of millions of dollars on BTC, the firm said it has board approval to substantially increase its bitcoin holdings and aims to become one of the largest healthcare corporate bitcoin holders globally, in a press statement on Wednesday.

“What excites me most is not just Bitcoin as a treasury asset, but the convergence we’re witnessing between healthcare innovation and blockchain technology,” said Danny Yeung, CEO of Prenetics. “We’re at the dawn of a new era where genomics, personalized medicine, and digital assets will intersect in ways that could revolutionize how we approach human health, longevity and wealth.”

Earlier this week, H100 Group (H100), a Swedish health-technology company, announced a 750 million kronor ($79 million) transaction to support its long-term bitcoin BTC treasury strategy.

Prenetics also announced the appointment of Andy Cheung, former COO of OKEx, to its Board of Directors.