Nasdaq Healthcare Giant Bets Big: Allocates $20M to Bitcoin Treasury in Bold Crypto Move
Wall Street meets Satoshi as traditional finance gets a crypto facelift.
Another blue-chip player just took the orange pill. A major Nasdaq-listed healthcare firm just diverted $20 million of corporate treasury funds into Bitcoin—proving even stodgy institutions can't ignore the digital gold rush.
The boardroom gamble
Forget dipping toes—this is a cannonball into deep liquidity pools. The nine-figure BTC allocation signals either reckless speculation or visionary hedging against fiat decay (depending which CFO you ask).
Corporate treasuries waking up
While crypto natives yawn at another 'first mover,' the real story's in the spreadsheet: that $20M could've bought premium malpractice insurance or funded R&D. Instead, it's parked on a blockchain ledger—the ultimate middle finger to 0.5% yield bonds.
Bonus jab: Nothing cures healthcare inflation like volatile crypto returns, right?
Orange-pilled
To guide the initiative, Prenetics recruited former OKEx chief operating officer Andy Cheung to its board. Cheung previously helped oversee billions in daily crypto trading volume at one of the world's largest exchanges.
Tracy Hoyos-López, chief of staff for strategic initiatives at Kraken, has joined the firm as an advisor, helping to guide Prenetics as it adopts the Bitcoin treasury playbook deployed by firms including Strategy and Metaplanet.
Hoyos-López was one of three people pivotal to making President Donald TRUMP "orange-pilled" by bringing him to speak at the Bitcoin conference in Nashville last year.
At the conference, Trump promised to establish a "strategic BTC stockpile." In March, the president signed an executive order to establish a strategic reserve "capitalized with Bitcoin owned by the federal government," according to a statement from AI and crypto czar David Sacks.
Hoyos-López fiercely advocated for Trump, who at the time faced Kamala Harris for the presidency. “Our industry as a whole will cease to exist if Trump doesn’t win,” Hoyos-López said at the time, per a report from CNBC.
Decrypt reached out to Prenetics for comment on Hoyos-López’ appointment.
Edited by Stephen Graves
