David Beckham-Backed Healthcare Company Invests in Bitcoin

Prenetics, a US-based healthcare company backed by football star David Beckham, is the latest company to own Bitcoin with a $20 million investment. This announcement caused the company's stock price to soar.

With this investment, Prenetics becomes the first publicly listed healthcare company to invest in BTC. The company is headquartered in Hong Kong and has multiple subsidiaries worldwide.

Prenetics Follows MicroStrategy with Bitcoin Investment

In recent weeks, many large companies have been buying and holding Bitcoin, and this trend is growing. Sixty companies have joined this global phenomenon, potentially creating a significant market impact.

Prenetics is the latest to join, purchasing $20 million of Bitcoin at an average price of $106,712.

"What excites me most is not just Bitcoin as a Treasury asset, but the convergence we're seeing between healthcare innovation and blockchain technology. 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," CEO Danny Yeung said.

This is a high price for Prenetics' first Bitcoin purchase, but it has been a quite profitable investment recently. Additionally, many companies have shown significant stock price increases after becoming BTC owners.

Prenetics is no exception; officially entering the Web3 space created a 23% increase in the company's stock.

Moreover, this Bitcoin purchase does not seem to be a limited experiment. The company recently appointed Andy Cheung, former COO at OKEx, to the Board of Directors.

Cheung has over a decade of experience in this field, and his appointment symbolizes a long-term commitment.

Prenetics is the first healthcare company to buy Bitcoin, but has no intention of stopping here.

The company has also hired two other crypto advisors to build this strategy, Token2049 founder Raphael Strauch and Tracy Hoyos Lopez, Chief of Strategy Initiatives at Kraken. Together, they have ambitious plans for Web3 development:

"We now have the financial platform to pioneer innovative Treasury management methods, including our historic Bitcoin Treasury strategy. But this is just the beginning – we have capital partners and the trust to build one of the most significant Bitcoin Treasuries in the healthcare sector," Yeung added.

Additionally, although David Beckham has invested heavily in Prenetics, he does not seem to be directly involved in this Bitcoin plan. However, the football industry has been involved in crypto for many years, and a famous French team started its own reserves last month.

Beckham's association with the brand could help encourage more top sports professionals to invest in this sector.