David Beckham-Backed Health Firm Ceases Bitcoin Treasury Plans

Prenetics, a health-sciences company that started buying Bitcoin earlier this year, has become the latest digital-asset treasury firm to halt that strategy amid depressed crypto prices.

The firm said on Tuesday that it stopped buying Bitcoin on Dec. 4, and will now focus more squarely on IM8, a nutritional supplement brand co-founded by English football icon David Beckham. Beckham is also a strategic investor in Prenetics, according to the company’s website.

“We are making disciplined strategic decisions that reflect our experience as operators and our commitment to maximizing long-term shareholder value,” Danny Yeung, Prenetics’s chief executive officer, said ...