PreNetX Global Limited has announced the termination of its Bitcoin purchasing program, shifting its investment strategy entirely toward its health and longevity brand, IM8, launched with the support of David Beckham. Following board approval on December 4, the company, listed on the New Securities Market, has stopped daily Bitcoin acquisitions and does not intend to buy more in the future. PreNetX will retain its existing 510 Bitcoins as treasury assets but will allocate no new capital to increase this holding.
This move marks a clear departure from the strategy adopted earlier this year when many public companies began accumulating Bitcoin as treasury assets. However, declining cryptocurrency prices and investors’ renewed focus on core business operations have reduced this trend. PreNetX stated that the decision reflects IM8’s rapid growth, making it the fastest-growing supplement brand in industry history. Within 11 months of launch, IM8 surpassed $100 million in annual revenue, with projections of $180 to $200 million for fiscal year 2026.
PreNetX CEO and co-founder Danny Yeung emphasized that IM8’s outstanding success exceeded all expectations, and the board agreed that concentrating resources on IM8 represents the best path to long-term shareholder value. The company is financially strong, holding over $70 million in cash and equivalents, no debt, and maintaining its current Bitcoin holdings, enabling it to fund IM8’s next growth phase without external financing.
PreNetX will now focus all investments on IM8’s operations, product development, brand marketing, talent acquisition, and international expansion. IM8 is a nutritional supplement brand designed to simplify daily health needs and is endorsed by Beckham and world number one tennis player Aryna Sabalenka. This strategic shift comes amid weak market conditions for Bitcoin and other digital assets, with many companies facing challenges in the share market after incorporating cryptocurrencies into their treasury. PreNetX’s new approach signals a return to a traditional, stable business model. The Bitcoin holdings will remain on the balance sheet but will no longer play a significant role in investment priorities. Following the announcement, PreNetX shares remained relatively stable.
Source: bitcoinmagazine
