According to BlockBeats, on November 22, fitness equipment manufacturer Interactive Strength announced that its board has approved allocating up to $5 million to buy Bitcoin, capped at 25% of the company's average cash holdings over the past three months.
Previously, the company stated its plan to hold Bitcoin as a reserve asset, claiming that the cryptocurrency's 'anti-inflation characteristics may make it a reliable asset with value storage capabilities.'
Interactive Strength CEO Trent Ward stated that this move aligns with the company's strategy, as Bitcoin continues to be 'a major asset class that attracts and gains recognition from investors.' Additionally, Interactive Strength plans to accept cryptocurrency payments, allowing customers to choose to purchase its fitness products using digital currencies, and these payments will also be held in Bitcoin, limiting distribution in line with treasury reserves. Following this news, Interactive Strength's stock price surged by 11.4%.
