Hong Kong-based health science firm Prenetics, backed by David Beckham, has raised $48 million in a heavily oversubscribed equity round to fund its global wellness brand IM8 and strengthen its Bitcoin treasury.
Investors included Kraken, Exodus, GPTX, and American Ventures.
Prenetics said total proceeds could reach $216 million through warrant exercises.
CEO Danny Yeung announced that the company plans to accumulate 1 BTC daily to achieve its dual target of $1 billion in both revenue and Bitcoin holdings within five years.
IM8 has already hit $100 million in annual recurring revenue in just 11 months.
Prenetics made its first Bitcoin purchase in June and currently holds 268.4 BTC valued at $30.9 million.
Despite the news, PRE shares dropped nearly 15% in pre-market trading to $13.80.
The move underscores a growing trend of non-crypto firms, especially in healthcare, diversifying into Bitcoin as a reserve asset.
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