Interactive Strength Inc. (Nasdaq: TRNR) Board of Directors Approves Bitcoin as Treasury Reserve Asset
Interactive Strength Inc. (NASDAQ:TRNR) announced its Board of Directors has approved the purchase of up to $5 million in Bitcoin as a treasury reserve asset, to 25% of the company's average daily cash holdings over three preceding calendar months. The maker of CLMBR and FORME fitness equipment will also begin accepting cryptocurrency payments from customers, with plans to retain these payments in Bitcoin within the same treasury limits. The company views Bitcoin as an inflation-resistant store of value and cites recent Bitcoin ETF approvals and increased institutional investor activity as indicators of growing market acceptance.
Interactive Strength Inc. (NASDAQ:TRNR) ha annunciato che il suo Consiglio di Amministrazione ha approvato l'acquisto di fino a 5 milioni di dollari in Bitcoin come asset di riserva di tesoreria, pari al 25% delle medie giornaliere di liquidità dell'azienda nei tre mesi precedenti. Il produttore di attrezzature per il fitness CLMBR e FORME inizierà anche ad accettare pagamenti in criptovaluta dai clienti, con l'intenzione di mantenere questi pagamenti in Bitcoin all'interno degli stessi limiti di tesoreria. L'azienda considera il Bitcoin un valore rifugio resistente all'inflazione e cita le recenti approvazioni di ETF Bitcoin e l'aumento dell'attività degli investitori istituzionali come indicatori di crescente accettazione del mercato.
Interactive Strength Inc. (NASDAQ:TRNR) anunció que su Junta Directiva ha aprobado la compra de hasta 5 millones de dólares en Bitcoin como activo de reserva del tesoro, correspondiente al 25% de las reservas diarias promedio de efectivo de la empresa durante los tres meses calendario anteriores. El fabricante de equipos de fitness CLMBR y FORME comenzará también a aceptar pagos en criptomonedas de los clientes, con planes de retener estos pagos en Bitcoin dentro de los mismos límites del tesoro. La empresa considera el Bitcoin como un refugio de valor resistente a la inflación y cita las recientes aprobaciones de ETF de Bitcoin y el aumento de la actividad de inversores institucionales como indicadores de una creciente aceptación del mercado.
Interactive Strength Inc. (NASDAQ:TRNR)는 이사회가 500만 달러 상당의 비트코인을 재무 준비 자산으로 구매하기로 승인했다고 발표했습니다. 이는 회사의 지난 3개월 평균 현금 보유액의 25%에 해당합니다. CLMBR 및 FORME 피트니스 장비 제조업체인 이 회사는 고객으로부터 암호화폐 결제를 수락하기 시작할 예정이며, 이 결제를 같은 재무 한도 내에서 비트코인으로 유지할 계획입니다. 이 회사는 비트코인이 인플레이션 저항성이 있는 가치 저장 수단이라고 보고 있으며, 최근 비트코인 ETF 승인과 기관 투자자의 증가를 시장 수용 증가의 지표로 인용하고 있습니다.
Interactive Strength Inc. (NASDAQ:TRNR) a annoncé que son Conseil d'Administration a approuvé l'achat d'un montant allant jusqu'à 5 millions de dollars en Bitcoin comme actif de réserve de trésorerie, correspondant à 25 % de la moyenne des liquidités quotidiennes de l'entreprise au cours des trois mois civils précédents. Le fabricant d'équipements de fitness CLMBR et FORME commencera également à accepter les paiements en cryptomonnaies de ses clients, avec des plans de conserver ces paiements en Bitcoin dans les mêmes limites de trésorerie. L'entreprise considère le Bitcoin comme une réserve de valeur résistante à l'inflation et cite les récentes approbations d'ETF Bitcoin ainsi que l'augmentation de l'activité des investisseurs institutionnels comme des indicateurs d'une acceptation croissante du marché.
Interactive Strength Inc. (NASDAQ:TRNR) hat bekannt gegeben, dass der Vorstand den Kauf von bis zu 5 Millionen Dollar in Bitcoin als Treasury-Reserven genehmigt hat, was 25% der durchschnittlichen täglichen Bargeldbestände des Unternehmens in den drei vorhergehenden Kalendermonaten entspricht. Der Hersteller von Fitnessgeräten CLMBR und FORME wird auch anfangen, Kryptowährungszahlungen von Kunden zu akzeptieren, mit Plänen, diese Zahlungen innerhalb derselben Treasury-Grenzen in Bitcoin zu halten. Das Unternehmen sieht Bitcoin als inflationsresistente Wertaufbewahrung und zitiert die jüngsten Genehmigungen von Bitcoin-ETFs sowie die steigende Aktivität institutioneller Investoren als Indikatoren für eine wachsende Marktakzeptanz.
- Board approval to invest up to $5M in Bitcoin as treasury reserve
- New revenue stream through cryptocurrency payment acceptance
- Strategic diversification of treasury assets
- Exposure to cryptocurrency market volatility
- 25% cash holding limitation may restrict Bitcoin investment potential
- Potential regulatory risks associated with crypto holdings
The Board of Directors approved a maximum cumulative Bitcoin purchase of up to
$5 million The Company plans to accept payment in digital currencies
AUSTIN, TX / ACCESSWIRE / November 21, 2024 / Interactive Strength Inc. (NASDAQ:TRNR) ("TRNR" or "the Company"), maker of innovative specialty fitness equipment under the CLMBR and FORME brands, today announced that the Company's Board of Directors approved the purchase of up to
Trent Ward, Co-Founder and CEO of TRNR, said: "As Bitcoin continues to grow, gaining investor attention and acceptance as a major and primary asset class, we believe that Bitcoin will serve as a strong treasury reserve asset. We believe its inflation-resistant characteristics may make it a reliable asset as a functional store of value. The recent approval of Bitcoin ETFs and increasing activity from institutional investors are compelling demonstrations of growing acceptance."
In addition, the Company plans to accept certain cryptocurrency payments, giving customers the flexibility to purchase its products using digital currencies soon. As part of this initiative, the TRNR Board of Directors has approved to retain these crypto payments in Bitcoin in the same limits as its treasury reserve assets, reflecting the Company's confidence in the long-term potential and value of digital assets. The allocation reflects a strong commitment to enhancing shareholder value by leveraging Bitcoin's potential as a hedge against inflation and as a valuable component of a diversified treasury.
"We have a global business and we see a unique opportunity to increase the convenience for our customers and to strengthen our treasury with an innovative investment," continued Mr. Ward. "We believe Bitcoin aligns with our forward-thinking strategy and complements our mission to drive innovation across all aspects of our business."
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About Interactive Strength Inc.:
Interactive Strength Inc. produces innovative specialty fitness equipment and digital fitness services under two main brands: 1) CLMBR and 2) FORME. Interactive Strength Inc. is listed on NASDAQ (symbol: TRNR).
CLMBR is a vertical climbing machine that offers an efficient and effective full-body strength and cardio workout. CLMBR's design is compact and easy to move - making it perfect for commercial or in-home use. With its low impact and ergonomic movement, CLMBR is safe for most ages and levels of ability and can be found at gyms and fitness studios, hotels, and physical therapy facilities, as well as available for consumers at home. www.clmbr.com.
FORME is a digital fitness platform that combines premium smart gyms with live virtual personal training and coaching to deliver an immersive experience and better outcomes for both consumers and trainers. FORME delivers an immersive and dynamic fitness experience through two connected hardware products: 1) The FORME Studio Lift (fitness mirror and cable-based digital resistance) and 2) The FORME Studio (fitness mirror). In addition to the company's connected fitness hardware products, FORME offers expert personal training and health coaching in different formats and price points through Video On-Demand, Custom Training, and Live 1:1 virtual personal training. www.formelife.com.
Forward Looking Statements:
This press release includes certain statements that are "forward-looking statements" for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements do not relate strictly to historical or current facts and reflect management's assumptions, views, plans, objectives and projections about the future. Forward-looking statements generally are accompanied by words such as "believe", "project", "expect", "anticipate", "estimate", "intend", "strategy", "future", "opportunity", "plan", "may", "should", "will", "would", "will be", "will continue", "will likely result" or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, potential purchases of bitcoin or acceptance of payments in cryptocurrency, or continued institutional investor acceptance of bitcoin as an asset class. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Company. Risks and uncertainties include but are not limited to: demand for our products; competition, including technological advances made by and new products released by our competitors; our ability to accurately forecast consumer demand for our products and adequately maintain our inventory; and our reliance on a limited number of suppliers and distributors for our products. A further list and descriptions of these risks, uncertainties and other factors can be found in filings with the Securities and Exchange Commission. To the extent permitted under applicable law, the Company assumes no obligation to update any forward-looking statements.
SOURCE: Interactive Strength Inc.
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FAQ
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