As Bitcoin adoption continues to grow rapidly, many large companies have followed MicroStrategy’s lead and started buying BTC. Finally, Nasdaq-listed fitness equipment manufacturer Interactive Strength has attracted attention as part of this trend.
According to a statement made by the company, the board of directors of Interactive Strength (NASDAQ: TRNR) has approved the purchase of up to $5 million worth of Bitcoin. The official announcement stated that this purchase will be limited to 25% of the company’s average daily cash assets over the last three calendar months.
Trent Ward, Co-Founder and CEO of Interactive Strength, said:
“As Bitcoin grows and attracts investor interest, we see it gaining acceptance as a major and important asset class. Bitcoin’s inflation-resistant properties could make it a reliable asset as a functional store of value. Additionally, the approval of Bitcoin ETFs and the increasing interest from institutional investors are compelling signs that this acceptance is strengthening.”
Ward also emphasized that they believe Bitcoin aligns with the company’s forward-looking strategies and contributes to their mission to foster innovation in all areas of their business.
In addition, Interactive Strength announced that they will soon start accepting cryptocurrency payments. The company stated that its customers will be able to purchase their products with cryptocurrency and that payments can be made with Bitcoin.
