Footballer David Beckham-Backed Healthcare Firm Will no Longer Buy Bitcoin
🔥 Key Takeaways
- Prenetics, a health science firm backed by footballer David Beckham, has announced that it will no longer add Bitcoin to its balance sheet.
- The company currently holds a stash of 510 BTC, but will not increase its holdings.
- This decision may reflect a shift in the company’s investment strategy or a change in its views on the cryptocurrency market.
Prenetics Abandons Plans to Buy More Bitcoin
Prenetics, a health science firm backed by footballer David Beckham, has announced that it will no longer add Bitcoin to its balance sheet. The company currently holds a stash of 510 BTC, which is valued at approximately $20 million at current market prices.
The decision to stop buying Bitcoin may come as a surprise to some, as Prenetics had previously been bullish on the cryptocurrency. However, the company’s decision may reflect a shift in its investment strategy or a change in its views on the cryptocurrency market.
Impact on the Cryptocurrency Market
The news may have a minor impact on the cryptocurrency market, as Prenetics is not a major player in the space. However, the decision may be seen as a negative signal by some investors, particularly those who were hoping for increased institutional adoption of Bitcoin.
It’s worth noting that Prenetics is not selling its existing Bitcoin holdings, but rather choosing not to increase its exposure to the cryptocurrency. This suggests that the company still sees some value in holding Bitcoin, even if it is not actively buying more.
Conclusion
Prenetics’ decision to stop buying Bitcoin may reflect a shift in the company’s investment strategy or a change in its views on the cryptocurrency market. While the news may have a minor impact on the market, it highlights the ongoing uncertainty and volatility of the cryptocurrency space.
Read Also Epochs
