beckham

The nutrition supplement company Prenetics Global, supported by football star David Beckham, announced that it has canceled its Bitcoin (BTC) reserve and accumulation plan. This decision comes less than three months after the company completed a $48 million funding round and explicitly proposed a strategy to build a cryptocurrency asset treasury.Prenetics stated that the company will refocus its strategic priorities on its core consumer health business IM8, which it describes as "the fastest-growing nutrition supplement brand in industry history." In a statement released on Tuesday, the company announced that it will no longer pursue future Bitcoin acquisitions. In October of this year, the Nasdaq-listed company completed an oversubscribed equity financing round, with funds originally intended to accelerate the construction of the Bitcoin treasury and expand the IM8 brand. At that time, the price of Bitcoin was approximately $114,000, while as of Tuesday afternoon, the price had fallen to about $88,000.In addition to Beckham, the investors in this funding round included institutions such as Kraken, Exodus, Wu Jihan's GPTX, DL Holdings, and American Ventures. The company disclosed that it currently holds over $70 million in cash and cash equivalents, as well as 510 Bitcoins.

ChainCatcher news, health science company Prenetics, backed by David Beckham, has raised $48 million in an oversubscribed equity financing round to expand its health brand IM8 and advance its Bitcoin reserve strategy.Prenetics stated in an email announcement sent on Monday that the total financing amount could reach $216 million through the exercise of warrants. This round of financing attracted investors such as Kraken, Exodus, GPTX, and American Ventures. CEO Danny Yeung mentioned that this funding will help IM8 achieve global expansion while accumulating one Bitcoin daily, aiming for both revenue and Bitcoin holdings to reach $1 billion within five years. Data shows that the company currently holds 268.4 Bitcoins (worth $30.9 million).

ChainCatcher news, according to Yahoo Finance, NFL star Odell Beckham Jr. reached an agreement with Block Inc.'s Cash App to receive $750,000 of his salary in Bitcoin when he signed with the Los Angeles Rams back in 2021.According to data from The Action Network cited by Morningstar, the price of Bitcoin on the day of redemption was $64,158. If calculated at a price of $100,000, the value of that Bitcoin has reached $1,168,900, an increase of over 55%. While it is unclear whether Odell Beckham Jr. has held onto the Bitcoin throughout the three years, it is reasonable to assume that his gamble has paid off, as he confirmed last month that he is still working with Cash App to receive his salary in Bitcoin.