Prenetics invests $20 million to purchase Bitcoin, initiating a digital asset reserve strategy

NASDAQ-listed genomics and digital health company Prenetics (stock code: PRE) announced that it has purchased 187.42 Bitcoins at an average price of $106,712 each through Kraken's custody platform, totaling $20 million. This is the first step in its board-approved "comprehensive" Bitcoin strategy.

Prenetics stated that the company will integrate Bitcoin into a complete ecosystem ranging from financial management to consumer payments, and explore revenue channels such as crypto lending and structured products. The company also appointed former OKEx Chief Operating Officer Andy Cheung as a director and invited Kraken's former strategic head to serve as an advisor.

After the announcement, the company's stock price rose by 23.3%.