Prenetics Buys $20 Million in Bitcoin, Stock Jumps 23%

Prenetics, a healthcare company with dual headquarters in the United States, has made a significant move into the Bitcoin space by purchasing approximately 187 BTC at an average price of $106,712 per coin. This acquisition, totaling around $20 million, was secured through a Kraken custody account and marks the beginning of Prenetics' strategy to become one of the largest corporate Bitcoin holders in the healthcare industry. This approach mirrors that of other institutions which have integrated Bitcoin into their treasury reserves.

To support this new direction, Prenetics has also made changes to its leadership structure. Andy Cheung, the former chief operating officer of OKEx, has joined the Prenetics board of directors. Additionally, Tracy Hoyos Lopez, a Kraken executive credited with influencing Donald Trump’s pro-Bitcoin stance during his campaign, has joined the company’s advisory team. Lopez highlighted that Prenetics is well-positioned to capitalize on growing institutional adoption, given its improved financial standing and the evolving regulatory landscape surrounding digital assets.

Prenetics reported a strong liquidity position of roughly $117 million, including its new Bitcoin holdings, cash, and short-term assets. Following the announcement, the company’s stock saw a boost of more than 23% over the past 24 hours. This move comes as the Trump administration continues to embrace digital assets, with President Trump issuing an executive order in March calling for the creation of a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.”

Meanwhile, Norwegian crypto firm K33 has announced plans to raise at least 85 million Swedish krona, or roughly $8.9 million, through a directed share issue to fund the purchase of up to 1,000 Bitcoin for its own corporate reserves. The company appointed Pareto Securities to manage the offering, setting the subscription price at $0.011 per share and aiming to issue a minimum of 820 million shares. K33 believes that holding Bitcoin will improve its margins, support new product development, and increase its appeal to institutional clients. The share offering will not be available in jurisdictions where such distribution would be prohibited.

K33's announcement is part of a broader movement in Norway, where more firms are embracing Bitcoin as a reserve asset. Earlier this month, Norwegian Block Exchange experienced a massive stock surge after revealing plans to hold Bitcoin. Additionally, Aker ASA’s crypto-focused subsidiary, Seetek, now holds 754 BTC. This trend indicates a growing acceptance of Bitcoin as a strategic asset in the corporate world.

In contrast, political backlash erupted in the Czech Republic over a controversial $45 million Bitcoin donation from a convicted criminal to the Ministry of Justice. This led to resignations and a failed no-confidence vote. The donation, made by Tomáš Jiřikovský, a man with prior convictions for drug trafficking, weapons offenses, and embezzlement, triggered a political firestorm. Justice Minister Pavel Blažek resigned, and Finance Minister Zbyněk Stanjura is under scrutiny. The incident has raised serious questions about the government's handling of crypto-related affairs and its ethical standards.

The donation was made possible after a court authorized the return of Jiřikovský's previously seized devices. He claimed the Bitcoin was a third of his crypto holdings, with the remainder tied to the now-defunct illicit website Nucleus Market. Due to outdated hardware, access to the larger wallet has reportedly been lost. The incident adds to a growing list of global political controversies involving cryptocurrency, highlighting the complex interplay between digital assets and political governance.