Texas Fitness Maker Interactive Strength Plans to Allocate $5M in Bitcoin as Part of Treasury Strategy

Interactive Strength, a maker of specialty fitness equipment, said Thursday its board has approved allocating up to $5 million in Bitcoin (BTC), subject to a cap of 25% of the company's average daily cash holdings over the past three months.

Interactive Strength, a Texas-based fitness equipment maker, has announced plans to allocate up to $5 million in Bitcoin (BTC) as part of its treasury strategy.

The company's board has approved the allocation, which is subject to a cap of 25% of Interactive Strength's average daily cash holdings over the past three months, according to a press release on Thursday.

Interactive Strength, which is headquartered in Austin, said it plans to hold Bitcoin as a treasury reserve asset. The cryptocurrency's “inflation-resistant characteristics may make it a reliable asset as a functional store of value,” the company said.

“This aligns with our company strategy as Bitcoin continues gaining investor attention and acceptance as a major and primary asset class,” Interactive Strength CEO Trent Ward said in the press release.

Interactive Strength also said it will begin accepting crypto payments, giving customers the option to purchase its fitness products with digital currencies. These payments will be retained in Bitcoin under the same limits as the treasury reserve allocation.

Interactive Strength shares rose 11.4% in premarket trading on Thursday, according to data from Nasdaq.

The move comes amid a growing trend among public companies to incorporate Bitcoin into their financial strategies. Artificial intelligence firm Genius Group recently announced $4 million in BTC purchases, bringing its holdings to 153 BTC as part of its “Bitcoin-first” strategy to allocate 90% or more of its reserves to the cryptocurrency.

Other companies, including MicroStrategy and Nasdaq-listed Acurx, have also expanded their Bitcoin holdings to capitalize on its role as a hedge against inflation and a store of value supporting technological innovation.