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Prenetics Global Ltd., the health sciences company linked to David Beckham, said it will stop buying bitcoin in 2026. This represents a clear withdrawal from the corporate bitcoin treasury plan that gained momentum earlier in the cycle.
The company has confirmed that it will end its daily Bitcoin purchases in December 2025 and will not seek further purchases. While Prenetics will retain its existing Bitcoin holdings, this strategic shift reflects a broader revaluation that is unfolding in public companies after Bitcoin’s decline at the end of 2025.
Bitcoin’s bear market is making public companies think twice
It was The sharp decline of Bitcoin In November and December 2025 a significant impact Companies using balance sheets to gain exposure to cryptocurrencies. That was pressure More clearly in MicroStrategyWhich stock fell much more than Bitcoin itself during the correction.
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This divergence highlighted a structural risk. Equity-funded Bitcoin strategies can increase drawdown losses during recessions through leverage, dilution, and changing investor sentiment.
When Bitcoin declines, it strengthens The price of Microstrategy shares This step. The MSTR index has collapsed more than 60% in the last six months. This has fueled concerns that Treasuries-led exposure is turning operating companies into highly experimental crypto stewards.
For non-cryptocurrency businesses, these fluctuations carry reputational and governance risks. Boards must justify capital allocation decisions to shareholders who may prefer predictable cash investments over exposure to a highly cyclical asset.
In this context, it seems This decision Prenetics was less about completely abandoning Bitcoin and more about containing balance sheet risk.
Prenetics maintains close ties with Beckham through IM8, its premium health and longevity brand that it co-founded with the former soccer star.
IM8’s rapid revenue growth shifted the company’s risk-reward calculus toward operational expansion rather than financial engineering.
Signing Bitcoin purchases For the future, Prenetics reduces exposure to cryptocurrency market volatility by holding options through its existing holdings.
The move signals a broader decline in corporate enthusiasm for Bitcoin. As the market pressure at the end of 2025 has shown, Bitcoin bonds can enhance returns in bull markets, but cause significant declines during corrections.
