Prenetics, Backed by David Beckham, Cancels $2M Bitcoin Investment Plan

Prenetics Global, a genomics and health testing company famously backed by David Beckham, has officially abandoned its plan to purchase $2 million worth of Bitcoin. The Nasdaq-listed firm announced the decision to terminate its previously announced crypto investment strategy. This move marks a significant reversal for the company, which had initially signaled a foray into digital asset treasury management. The cancellation comes amidst a period of high volatility and regulatory scrutiny within the cryptocurrency market. Analysts suggest this reflects a cautious corporate approach towards Bitcoin adoption, especially among publicly traded companies outside the core tech and finance sectors. The funds originally earmarked for Bitcoin will be reallocated for general corporate purposes and to support Prenetics' core operations in health technology.