Bitcoin Reserve Strategy in Healthcare
A group of individuals who backed former US President Donald Trump is now joining the advisory board of healthcare companies that are developing a Bitcoin Reserve Strategy.
In an announcement made on Wednesday, Prenetics—a health services firm with bases in Hong Kong and the US—revealed plans to invest $20 million in Bitcoin (BTC). They mentioned that they used a Kraken Custody account to acquire around 187 BTC at an average price of $106,712 per Bitcoin.
According to the statement, “Prenetics aims to significantly increase its Bitcoin holdings and seeks to establish itself as one of the leading Bitcoin holders among global healthcare companies.”
This news follows an earlier announcement in which former Okex Chief Operating Officer Andy Cheung was named to the board. Additionally, Tracy Hoyos Lopez, who serves as Kraken’s Chief of Staff for strategic initiatives and played a role in Trump’s embrace of cryptocurrency during his campaign, was also included in Prenetics’ “Elite Advisory Team.”
Lopez commented, “Having successfully guided President Trump’s Bitcoin advocacy and observing a stronger regulatory framework forming worldwide, this comprehensive Bitcoin strategy enhances our financial position, allowing the company to potentially reap substantial benefits as adoption accelerates.”
Possible National BTC Reserve by US Government?
Numerous US companies are following similar strategies, particularly after Trump’s executive order in March aimed at creating “strategic Bitcoin reserves” and a “digital asset stockpile.” The White House indicated that the US government has approximately 200,000 BTC, mostly sourced from seizures related to civil and criminal investigations.
It’s uncertain whether the Trump administration can legally augment its existing Bitcoin reserves. Nonetheless, an adviser has suggested that the US Treasury should reconsider its gold certificate framework to support cryptocurrency acquisitions. Currently, the strategy proposed is to be “budget neutral,” avoiding the use of taxpayer money for Bitcoin purchases.
