Trump Ally Joins Prenetics as It Buys 187 Bitcoin

Prenetics bought roughly 187 BTC at an average price of $106,712 each. Alongside the acquisition, the firm appointed former OKEx COO Andy Cheung to its board and added Tracy Hoyos Lopez, who helped shape Donald Trump’s pro-Bitcoin stance, to its advisory team. The announcement boosted Prenetics’ stock by over 23%. Meanwhile, Norwegian brokerage K33 is also aggressively entering the Bitcoin space, and plans to raise $8.9 million to purchase up to 1,000 BTC. 

In contrast, political backlash erupted in the Czech Republic over a controversial $45 million Bitcoin donation from a convicted criminal to the Ministry of Justice. This led to resignations and a failed no-confidence vote. 

Prenetics Adds Bitcoin and Trump Advisor to Team

Prenetics, a healthcare company with headquarters in both Hong Kong and the United States, announced a bold move into the Bitcoin space by investing $20 million to acquire about 187 BTC at an average price of $106,712 per coin. The purchase was secured through a Kraken custody account, and is the beginning of the firm’s strategy to become one of the largest corporate Bitcoin holders in the healthcare industry. This strategic pivot is very similar to the approach taken by other institutions like Strategy, which have integrated Bitcoin into their treasury reserves as well.

Press release from Prenetics

The company also revealed changes to its leadership structure to support this new direction. Andy Cheung, former chief operating officer of OKEx, will be joining the Prenetics board of directors. 

In addition, Tracy Hoyos Lopez, the Kraken executive credited with influencing former President Donald Trump’s pro-Bitcoin stance during his campaign,  joined the company’s advisory team. Lopez pointed out that Prenetics is well-positioned to capitalize on growing institutional adoption, especially given its improved financial standing and the changing regulatory landscape surrounding digital assets.

Prenetics reported a strong liquidity position of roughly $117 million, including its new Bitcoin holdings, cash, and short-term assets. After the announcement, the company’s stock (PRE) saw a boost of more than 23%over the past 24 hours.

Prenetics stock price over the past day (Source: Google)

The move comes as the Trump administration continues to embrace digital assets. In March, President Trump issued an executive order calling for the creation of a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.” According to the White House, the US government currently holds around 200,000 BTC, which was largely obtained through civil and criminal seizures. 

While the legal path for expanding these reserves is still a bit uncertain, advisers have proposed funding new acquisitions by revaluing gold certificates held by the US Treasury. This would not involve taxpayer funds and would be considered budget-neutral.

K33 Aims for 1,000 BTC

Norwegian crypto firm K33 announced plans to raise at least 85 million Swedish krona, or roughly $8.9 million, through a directed share issue to fund the purchase of up to 1,000 Bitcoin for its own corporate reserves. The company appointed Pareto Securities to manage the offering, setting the subscription price at $0.011 per share and aiming to issue a minimum of 820 million shares. 

Announcement from K33

According to K33, the proceeds will be used to buy Bitcoin for its balance sheet, which will help enhance both its financial position and its operational capabilities as a brokerage.

The move builds on K33’s earlier step in May when it secured financing to purchase 57 BTC. On Tuesday, the firm confirmed it acquired an initial 5 BTC, valued at approximately $523,000. According to the company, holding Bitcoin will improve its margins, support new product development, and increase its appeal to institutional clients. K33 firmly believes that Bitcoin exposure provides “real operational leverage” for its brokerage business.

CEO Torbjørn Bull Jenssen described the fundraising as the first step toward building a strong Bitcoin-based balance sheet, which means that the company is committed to growing its BTC holdings over the long-term. The share offering will not be available in jurisdictions like  the United States, Canada, Australia, Russia, or South Korea, among others where such distribution would be prohibited.

K33’s announcement is part of a broader movement in Norway, where more firms are embracing Bitcoin as a reserve asset. Earlier this month, Norwegian Block Exchange experienced a massive 138% stock surge after revealing plans to hold Bitcoin. Additionally, Aker ASA’s crypto-focused subsidiary, Seetek, now holds 754 BTC.

Bitcoin Donation Sparks Political Uproar

While Bitcoin mostly attracts feelings of excitement, the same can certainly not be said for everyone. Czech Prime Minister Petr Fiala’s government survived its fourth no-confidence vote in three years, this time brought on by a $45 million Bitcoin scandal involving a convicted criminal and the Ministry of Justice. 

The motion was spearheaded by opposition parties ANO, SPD, and the Pirates, but it failed to reach the necessary 101 votes in Parliament, ending with only 94 supporters after more than 24 hours of debate. Although the Civic Democratic Party remains in power, the controversy surrounding the donation raised many serious questions about the government’s handling of crypto-related affairs and its ethical standards.

At the center of the scandal is Tomáš Jiřikovský, a man with prior convictions for drug trafficking, weapons offenses, and embezzlement. On May 27, Jiřikovský donated 1,561 Bitcoin — worth approximately 1 billion Czech koruna ($45 million) — to the Ministry of Justice. The donation was made possible after a court authorized the return of his previously seized devices. 

Jiřikovský claimed the Bitcoin was a third of his crypto holdings, with the remainder — 3,855.15 BTC — tied to the now-defunct illicit website Nucleus Market. Due to outdated hardware, access to the larger wallet has reportedly been lost.

The donation triggered a political firestorm that even led to the resignation of Justice Minister Pavel Blažek on May 30. Finance Minister Zbyněk Stanjura is also under scrutiny, with opposition members alleging he was aware of the donation in advance. Eva Decroix was sworn in as the new Minister of Justice on June 10 and committed to launching an independent investigation into the matter. She assured the public that her ministry would fully cooperate with authorities.

Prime Minister Fiala admitted that the donation could have been prevented and acknowledged that it damaged public trust in his party. He promised accountability for the ethical missteps but accused opposition parties of exploiting the situation to attack his government with “insults and lies,” according to a post he made on X.

The incident now adds to a growing list of global political controversies involving cryptocurrency, including US President Donald Trump’s crypto-related ventures and Argentine President Javier Milei’s association with the Libra token scandal. While the Czech government weathered this latest political storm, the long-term implications for its credibility and crypto governance are still uncertain.