Early morning raid: Prenetics splashed $20 million to bottom-fish, medical capital enters FOMO mode.
NASDAQ-listed Prenetics dropped a bomb this morning: via Kraken's custody account, it purchased 187.42 BTC at an average price of $106,712, directly climbing to the top three in the medical industry’s coin holdings.
What's more ruthless is that the board has approved an unlimited buyback plan, clearly aiming to compete with MicroStrategy in the 'public company BTC accumulation race.'
Once the news broke, PRE's stock price violently surged by 23.3%, with trading volume exploding by 381%. Capital is voting with real money — traditional industries entering crypto is no longer a trial, but a strategic all-in.
Capital maneuvering: shedding medical assets and going all-in on BTC to hedge against inflation.
This operation is definitely not a spur-of-the-moment decision.
Prenetics sold its genomic business ACT Genomics for $46 million in cash as early as June 18, simultaneously clearing its liabilities, holding $117 million in short-term assets with zero debt.
CEO Danny Yeung laid it bare: 'BTC is an anti-inflation nuclear weapon and also a strategic entry point for blockchain + genomics.'
This is akin to throwing Wall Street's 'cash flow discounted valuation model' into the trash and embracing a new paradigm of on-chain transparent ledgers + smart contracts.
Top traders are entering the game: former COO of OKEx takes the helm, initiating a compliance blitz.
The most intriguing personnel change: former COO of OKEx, Andy Cheung, parachuted into the board.
This crypto veteran once led OKEx's contract market share to its peak, and now returns to the battlefield with traditional capital, clearly aiming to bridge the 'compliance exchanges - public companies - institutional custody' triangular closed loop.
On-chain data shows that all of Prenetics' BTC is deposited into Kraken's custody cold wallet, likely to be linked to a spot ETF channel through Coinbase Prime — this is a clear strategy to pave a compliance highway for traditional funds.
Track disruption: when gene sequencing meets the UTXO model.
Danny Yeung dropped a bomb in his statement: 'The immutable nature of blockchain will reconstruct the genome data ownership system.' In plain language: in the future, your DNA test report may go directly on-chain, with smart contracts controlling the medical data access permissions, using BTC to pay for gene sequencing costs. If this scenario materializes, it could add a trillion-dollar application scenario to BTC in the global precision medicine market alone.
Retail survival guide: three tips to fully grasp this wave of dividends.
Target related assets: PRE's stock price skyrocketing by 23% in a single day is just the appetizer, its holding cost of $106,712 has become a short-term psychological support level. If BTC revisits this position, one can gradually build a position.
Ambush the medical + crypto tracks: Binance's innovation zone may soon launch a tokenization protocol for genetic data. Referencing the eve of the 2024 AI sector explosion, such projects often see 3-5 times increases in the initial stage.
Beware of liquidity siphoning: large purchases by public companies often accompany a phase of peak, closely monitor Binance's large long-short ratio, and initiate hedging strategies immediately upon breaking 1.5.
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