Prenetics starts investing in bitcoin with help from Kraken, aiming to grow its crypto reserve.
- Prenetics buys $20 million in bitcoin using Kraken.
- The company wants to become a top bitcoin holder in healthcare.
- Andy Cheung, ex-OKEx COO, joins the company’s board.
Healthcare Firm Steps Into Crypto
Prenetics Global Limited, listed on NASDAQ as PRE, has joined the growing list of companies adding bitcoin to their treasury. This week, the company announced it had purchased $20 million worth of bitcoin. The transaction was completed with support from Kraken, a major cryptocurrency exchange.
Bigger Crypto Moves May Be Coming
While $20 million is small compared to large firms like MicroStrategy, Prenetics said its board has approved plans to increase its bitcoin holdings in the future. The company aims to become one of the biggest holders of bitcoin in the entire healthcare industry.
A New Strategy in Healthcare
Danny Yeung, CEO of Prenetics, explained that this move is about more than investment. He said that blockchain technology may also help the future of healthcare. His company is looking at how things like genomics and personalized medicine could work together with digital assets like bitcoin.
More Firms Follow the Trend
Prenetics is not alone. H100 Group, a health-tech firm in Sweden, announced this week that it raised $79 million to build a similar bitcoin strategy. More healthcare companies are exploring how to store value in bitcoin, just like MicroStrategy has done.
New Leadership for Crypto Growth
To support its new crypto plans, Prenetics brought in Andy Cheung, the former Chief Operating Officer of OKEx, a global crypto platform. He will join the company’s board of directors. His crypto industry experience is expected to help guide future bitcoin strategies.
Source: coindesk.com
