As Bitcoin adoption increases day by day, many major companies have begun to purchase Bitcoin, following in the footsteps of MicroStrategy.
At this stage, Inter,,active Strength (NASDAQ: TRNR), a manufacturer of fitness equipment listed on the NASDAQ stock exchange, announced that its board of directors has authorized the purchase of up to $5 million in Bitcoin.
The company, which announced its attempt to purchase Bitcoin, has this time made a surprising move worth $500 million to buy an altcoin.
Accordingly, the company announced that it will raise $500 million to purchase FET and establish a partnership in artificial intelligence with Fet,,ch.ai.
The company also announced that it has begun purchasing FET tokens using an initial investment of $55 million from DWF Labs and ATW Part,,ners.
Trent Ward, CEO of Inter,,active Strength, said:
"Fet,,ch.ai is a market-leading company that combines two of today's most important technology trends: artificial intelligence and cryptocurrency.
We believe that our strategy of acquiring a large number of FET tokens will significantly accelerate our mission to create long-term substantial value for TRNR shareholders."
Under this deal, Inter,,active will become the largest publicly listed company in the United States with a cryptocurrency portfolio focused on the Strength AI token.
The announcement from Inter,,active,,Stren,,gth regarding the FET portfolio comes amid a series of portfolio announcements from companies including Bitcoin ($BTC ), Ethereum ($ETH ), Solana ($SOL ), and other cryptocurrencies, driven by the successful example of the company Strat,,egy, owned by Michael Saylor, which was among the prominent rising companies, and its favorable conditions in the United States.
*This is not investment advice.
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