Summary
- Prenetics announced it has decided to suspend its Bitcoin (BTC) purchase program.
- The company said it has about 510 BTC and has no plans to sell it, opting to focus on its core business instead of additional purchases.
- Prenetics said it will maintain its Bitcoin holding strategy but adjust its strategy to focus on core business growth.
Nasdaq-listed global healthcare company Prenetics has decided to suspend its Bitcoin (BTC) purchase program.
On the 30th (local time), according to crypto asset (cryptocurrency) specialist media CryptoBriefing, Prenetics said it would suspend additional Bitcoin purchases to focus managerial resources on its core consumer healthcare brand IM8.
However, Prenetics said it does not plan to sell the Bitcoin it currently holds. The company holds about 510 BTC, worth approximately $45 million at market value.
Prenetics has been continuously buying Bitcoin since announcing in June that it would incorporate Bitcoin as part of its financial strategy. At the time, the company said it would use Bitcoin as a long-term store of value.
This decision is interpreted as Prenetics adjusting its strategy to maintain its Bitcoin holding approach while focusing on core business growth rather than making additional crypto asset purchases.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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