On December 31, 2025, health company Prenetics, backed by David Beckham, announced it was abandoning its Bitcoin accumulation strategy, just six months after adopting it. This decision, which comes after a $48 million fundraising and a 30% drop in Bitcoin's price, is a valuable lesson for all Crypto P2P Club members on the fundamental difference between opportunism and conviction.
From Euphoria to Abandonment: Six Months of a Fleeting Ambition
June 2025: The Grand Entrance
In June 2025, as the crypto market was in full euphoria, Prenetics Global announced its intention to become "the first healthcare company to adopt an aggressive Bitcoin allocation strategy for its treasury" [1]. The company, backed by football star David Beckham, acquired $20 million worth of BTC and hired a former OKX executive, Andy Cheung, to lead this new ambition.
At the time, the discourse was bold and visionary:
"We are at the dawn of a new era where genomics, personalized medicine, and digital assets will converge in a way that will revolutionize our approach to human health, longevity, and wealth creation. To realize this vision on a large scale, we need to hold significant volumes of Bitcoin." [1]
October 2025: The Confirmation
In October, as Bitcoin reached its all-time high of $126,000, Prenetics raised $48 million to finance its BTC purchases [1]. The company then seemed determined to follow in the footsteps of Strategy (MicroStrategy), the company of Michael Saylor that has made Bitcoin accumulation its main strategy.
December 2025: The U-Turn
Just six months after its grand entrance, and as Bitcoin corrected by 30% to reach $88,300, Prenetics announced it was abandoning its Bitcoin strategy. The company now prefers to focus on IM8, its brand of dietary supplements.
"Our board of directors and our management team have unanimously concluded that the most promising path to creating strong and sustainable shareholder value is to fully focus our efforts on this unique opportunity before us with IM8." [1]
Conviction Put to the Market Test: Strategy vs. Prenetics
This story highlights the fundamental difference between a strategy based on conviction and a strategy based on opportunism. To better understand, let's compare Prenetics to Strategy (MicroStrategy), the pioneer of "Bitcoin Treasury Companies".
| Criterion | Strategy (MicroStrategy) | Prenetics |
|---|---|---|
| Start of Accumulation | August 2020 | June 2025 |
| Conviction | Strong (Michael Saylor) | Weak (Opportunism) |
| Link with Bitcoin | Philosophical (Store of Value) | Artificial (Health?) |
| Reaction to Downturn | Continues to Buy | Abandons |
| Duration | 5+ Years | 6 Months |
Strategy began buying Bitcoin in 2020 and has never stopped, even during the most severe bear markets. The conviction of its CEO, Michael Saylor, is unwavering: Bitcoin is the best store of value in the world.
Prenetics, on the other hand, entered the market at its peak, attracted by the hype and short-term performance. At the first significant correction, the company abandoned its strategy, proving that its "conviction" was just an opportunistic veneer.
Lessons for the Crypto P2P Club Community
The Prenetics story is not "bad news" for Bitcoin. On the contrary, it is a necessary purge that eliminates actors who have no place in this ecosystem. Here are the lessons we must learn from it:
1. Conviction is Your Best Shield
Bitcoin is a volatile asset. If you are not convinced of its long-term value, you will sell at the first downturn. Conviction cannot be bought; it is built through education.
2. Sovereignty is Earned
Holding Bitcoin is an act of sovereignty. It requires patience, resilience, and a long-term vision. It is not a "trade" to make quick money.
3. Beware of Imitators
Many companies have tried to imitate Strategy without understanding its philosophy. They entered the market for the wrong reasons and will exit it in the same way. Don't follow companies; follow conviction.
4. Bitcoin is Not for Everyone
Bitcoin does not need David Beckham or dietary supplement companies to succeed. It needs convinced holders who understand its unique value proposition: a decentralized, incorruptible, and accessible store of value for everyone.
Conclusion: Learn, Hold, Share
The failure of Prenetics is a perfect illustration of the Crypto P2P Club's philosophy:
- Learn: Take the time to understand WHY you hold Bitcoin. This is the only way to build a solid conviction.
- Hold: Have the strength to keep your assets during corrections, remembering your long-term vision.
- Share: Educate those around you to prevent them from falling into the trap of opportunism and short-term speculation.
Bitcoin is not a sprint; it's a marathon. And in this marathon, only the convinced will cross the finish line.
References
[1] Cryptoast - After raising $48 million, the company backed by David Beckham gives up buying Bitcoin - https://cryptoast.fr/societe-soutenue-david-beckham-renonce-acheter-bitcoin/
[2] Cryptoast - Crisis of Ethereum Treasury Companies: ETHZilla sells massively and Bitmine resists - (mentioned in the article)
[3] Cryptoast - List of Bitcoin Treasury Companies: these listed companies that accumulate BTC - (mentioned in the article)