The board of directors of Interactive Strength, a US-listed company, has approved the purchase of $5 million worth of Bitcoin.

BlockBeats News, November 22, according to Accesswire report, Nasdaq-listed company Interactive Strength (NASDAQ: TRNR) board of directors announced the approval of purchasing up to $5 million worth of Bitcoin as a reserve asset, with the purchase amount not to exceed 25% of the company's average daily cash holdings for the previous three months.

The company's CEO, Trent Ward, stated that with the approval of a Bitcoin ETF and increasing institutional investor participation, Bitcoin is gradually gaining mainstream asset recognition. The company believes that Bitcoin 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 Bitcoin up to the same limit as the reserve asset to enhance shareholder value. Interactive Strength is a professional fitness equipment manufacturer that owns two major brands, CLMB and FORME.