According to BlockBeats, on November 22, the board of Interactive Strength approved allocating up to $5 million to purchase Bitcoin, capped at 25% of the company's average cash holdings over the past three months.
The company plans to use Bitcoin as a reserve asset, believing its anti-inflation characteristics make it a reliable store of value. CEO Trent Ward stated that this aligns with the company's strategy, with Bitcoin being a focus as a major asset class.
Additionally, Interactive Strength will accept cryptocurrency payments, allowing customers to purchase fitness products with digital currency, with payments retained in Bitcoin. The news drove the company's stock price up by 11.4%.
