Bitcoin Rises 0.54% Amid Prenetics' $11M BTC Purchase and Corporate Treasury Expansion

On OCT 31 2025, Bitcoin (BTC) rose by 0.54% within 24 hours to reach $110,183.99, despite a 3.42% drop over the past 7 days. The 0.54% monthly gain and 17.77% annual increase highlight a resilient long-term trend. This modest daily rise coincided with a strategic $11 million Bitcoin purchase by Prenetics, a health science company expanding its digital asset treasury.

Prenetics added 100 BTC to its holdings on October 31, 2025, at a cost of approximately $109,594 per coin. The acquisition increased its total Bitcoin position to 378 BTC, valued at around $41 million. This move followed a $44 million equity raise on October 28, which significantly bolstered the firm’s liquidity to over $127 million. CEO Danny Yeung emphasized that the purchase was part of a broader, systematic strategy to accumulate Bitcoin while maintaining operational growth in its IM8 supplement brand, which now generates $100 million in annual recurring revenue.

The company’s approach to Bitcoin accumulation includes both daily purchases and larger, strategic buys during favorable market conditions. Prenetics first entered the Bitcoin treasury market in June 2025 with a $20 million investment and plans to continue its dual acquisition strategy. This reflects growing institutional confidence in Bitcoin as a strategic asset, with Prenetics joining a trend of public companies allocating capital to digital assets as part of long-term value creation strategies.

Corporate Treasury Dynamics and Market Sentiment

The recent Bitcoin price action was influenced by broader macroeconomic factors, including the Federal Reserve’s October 2025 rate cut and ongoing geopolitical uncertainties. Despite a sell-off in late October that erased $19 billion in open interest, Bitcoin has shown resilience, retreating only briefly before regaining ground. Analysts note that Bitcoin’s performance in this volatile environment underscores its transition from speculative token to a strategic asset class.

Technical indicators suggest that Bitcoin is testing the 0.85 cost-basis band (~$109,000), a level historically associated with major market reversals. If it holds, the asset may continue its upward trajectory; a break below this level could signal further consolidation. The market appears to be in a holding pattern, waiting for clearer signals from the Fed's December decision and potential macroeconomic data releases.

Backtest Hypothesis

To better understand how Bitcoin price surges affect corporate treasury holders, we propose a backtest examining the impact of BTC price surges ≥5% on companies with substantial Bitcoin holdings. This analysis would assess the performance of selected public companies—such as MicroStrategy, Tesla, Block, and Coinbase—around these surge events.

The backtest would identify all BTC price surges of ≥5% from January 1, 2022, to October 31, 2025, using daily close-to-close returns. For each surge event, the model would evaluate the subsequent 1-, 5-, 10-, and 20-day returns of the company’s stock, alongside metrics like hit ratio, maximum drawdown, and average performance. The goal is to determine whether corporate Bitcoin holders tend to outperform or underperform in the wake of significant Bitcoin price increases, offering insights into the correlation between BTC price movements and corporate equity returns.