Interactive Strength to Invest $5 Million in Bitcoin Amid Growing Institutional Interest

On November 22, COINOTAG News reported that Interactive Strength, a publicly traded entity on Nasdaq under the ticker symbol TRNR, has obtained board approval to allocate up to $5 million for the acquisition of Bitcoin as a reserve asset. This strategic decision limits purchases to a maximum of 25% of the company’s average daily cash reserves over the preceding three months. CEO Trent Ward emphasized that with the recent approval of a Bitcoin ETF and a surge in institutional investments, Bitcoin is moving towards greater acceptance as a significant asset class. He believes in Bitcoin’s potential as a hedge against inflation and a reliable store of value. In addition, Interactive Strength aims to facilitate certain cryptocurrency transactions, retaining these revenues in Bitcoin, reinforcing its commitment to enhancing shareholder value. The company specializes in high-quality fitness equipment, operating renowned brands like CLMB and FORME.