Beckham-Backed Prenetics Raises $48 Million to Advance Bitcoin Treasury

On October 28, CoinDesk reported that Prenetics (PRE), a health science company backed by David Beckham, successfully raised $48 million in an oversubscribed equity financing round.

The funds will be primarily used to expand the global presence of its wellness brand IM8 and further its Bitcoin reserve strategy. Prenetics announced in an emailed announcement on Monday that if all warrants are exercised, the total raised is expected to reach $216 million.

The round attracted participation from investors including Kraken, Exodus (EXOD), GPTX, and American Ventures. CEO Danny Yeung stated that this round of funding will help accelerate the global expansion of the IM8 brand and that the company plans to increase its holdings by one Bitcoin per day, with the goal of exceeding $1 billion in both revenue and Bitcoin holdings within five years.

Data shows that Prenetics currently holds 268.4 Bitcoins, valued at approximately $30.9 million at current market prices.