Interactive Strength, a fitness equipment manufacturer headquartered in Austin, Texas, has just announced a plan to allocate $5 million into Bitcoin as part of its treasury management strategy.
In a press release dated 11/21, the company said the management team has approved the Bitcoin investment, with a limit not exceeding 25% of the average daily cash balance over the past three months, equivalent to around $5 million.
CEO Trent Ward stated that Bitcoin is a strategic reserve asset, emphasizing the "anti-inflationary" characteristics of this currency, making it a reliable store of value.
"The approval of Bitcoin for ETF funds and the increasing participation of institutional investors are clear evidence of widespread acceptance."
— Trent Ward, CEO of Interactive Strength
In addition to hoarding Bitcoin, Interactive Strength also plans to accept cryptocurrency payments for its fitness equipment products. The proceeds from these transactions will also be held in Bitcoin, following similar limits as the reserve strategy.
This information has caused Interactive Strength's stock to rise 11.4% according to Nasdaq data.
Interactive Strength's strategy is in line with the trend of companies publicly integrating Bitcoin into their financial operations. Recently, Genius Group, an artificial intelligence company, also announced the purchase of an additional $4 million worth of Bitcoin, bringing its total holdings to 153 BTC. Genius Group has implemented a "Bitcoin-first" strategy, with the goal of allocating more than 90% of its reserve assets to this cryptocurrency.
Read more: Genius Group will convert most of its assets to Bitcoin
Other companies such as MicroStrategy and Acurx have also expanded their Bitcoin holdings, seeing it as a hedge against inflation and a support for technological innovation.
Read more: MicroStrategy completes a $3 billion capital raise to buy Bitcoin
