TechFlow news — On November 22, according to Accesswire, Interactive Strength (NASDAQ: TRNR), a publicly traded company on Nasdaq, announced that its board of directors has approved the purchase of up to $5 million worth of Bitcoin as a reserve asset. The purchase amount will not exceed 25% of the company’s average daily cash holdings over the previous three months.
Trent Ward, CEO of Interactive Strength, stated that with the approval of Bitcoin ETFs and increasing institutional investor participation, Bitcoin is gradually gaining recognition as a mainstream asset. The company believes Bitcoin possesses inflation-resistant characteristics and can serve as a store of value. Additionally, Interactive Strength plans to accept payments in select cryptocurrencies and retain these revenues as Bitcoin under the same limits applied to its reserve assets, aiming to enhance shareholder value.
Interactive Strength is a manufacturer of professional fitness equipment, owning two major brands: CLMB and FORME.
