BlockBeats news, on November 22, according to Accesswire, the board of directors of Nasdaq-listed Interactive Strength (NASDAQ: TRNR) announced the approval to purchase up to $5 million worth of Bitcoin as reserve assets, with the purchase amount not exceeding 25% of the company's average daily cash holdings for the last three months.
The company's CEO Trent Ward stated that as Bitcoin ETFs gain approval and institutional investor participation increases, Bitcoin is gradually being recognized as a mainstream asset. The company believes that Bitcoin has anti-inflation characteristics and can serve as a store of value. Additionally, Interactive Strength plans to accept payments in certain cryptocurrencies and will retain these revenues as Bitcoin up to the same limit as reserve assets to enhance shareholder value. Interactive Strength is a manufacturer of professional fitness equipment, owning two major brands, CLMB and FORME.
