Healthcare Company Invests $20 Million in Bitcoin with Guidance from Trump’s Crypto Advisor
Prenetics, a global healthcare company, has entered the cryptocurrency market with a significant purchase of over 187 Bitcoin (BTC), averaging $106,712 per Bitcoin. This $20 million investment underscores their commitment to becoming a leading corporate holder of Bitcoin in the healthcare industry. The announcement positively impacted their Nasdaq stock price, which rose by 8.7%.
Strengthening the Team with Crypto Expertise
To bolster its strategy, Prenetics welcomed Andy Cheung, former COO of OKEx, and Tracy Hoyos Lopez from Kraken to its advisory board. Lopez’s experience in advising Donald Trump on cryptocurrency policies adds depth to Prenetics’ approach to Bitcoin and regulatory navigation.
Aligning with Broader Market Trends
Prenetics’ move reflects a growing trend among U.S. companies to incorporate Bitcoin into their financial strategies, a shift partly inspired by Trump’s executive order on a ‘Strategic Bitcoin Reserve’. With $117 million in liquidity, Prenetics is well-positioned to capitalize on the increasing institutional interest in Bitcoin.
The Significance for Healthcare and Beyond
- Prenetics pioneers a comprehensive Bitcoin strategy in the healthcare sector.
- This initiative may encourage other healthcare companies to consider Bitcoin.
- The adoption of Bitcoin by traditional industries signals broader acceptance of cryptocurrency.
