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US-listed company Interactive Strength's board of directors approves the purchase of $5 million worth of Bitcoin
On November 22, according to Accesswire, the board of directors of Interactive Strength (NASDAQ: TRNR), a NASDAQ-listed company, announced the approval of the purchase of up to $5 million in BTC as reserve assets, with the purchase amount not exceeding 25% of the company's average daily cash holdings for the previous three months. CEO Trent Ward stated that as BTC ETFs are approved and institutional investor participation increases, BTC is gradually gaining mainstream asset recognition. The company believes that BTC has anti-inflation properties and can serve as a store of value. In addition, Interactive Strength also plans to accept specific Cryptocurrency payments and reserve these revenues in BTC in the same limit as reserve assets to enhance shareholder value. Interactive Strength is a professional fitness equipment manufacturer with two major brands, CLMB and FORME.