Prenetics scraps Bitcoin strategy to focus on Beckham-backed nutrition brand

Prenetics has announced the abandonment of its Bitcoin strategy, shifting focus toward scaling its consumer health brand backed by David Beckham. While the company will maintain its Bitcoin holdings, it will cease accumulating BTC. Market trends indicate that this asset allocation change could impact Bitcoin's price. By venturing into the rapidly growing health sector, Prenetics aims to appeal to health-conscious consumers. However, the volatility and risks in the crypto market must also be considered, as a drop in Bitcoin's price might prompt similar actions from other investors, potentially leading to market anxiety.