Today was earnings report day and companies released their latest quarterly data. Bitcoin 
$72,507 price It suddenly rose to $72,500. This is not surprising, as reports of companies directly related to cryptocurrencies such as Robinhood, Coinbase, MicroStrategy have been announced. So what is the big Bitcoin plan in this report?
MicroStrategy and the Big Bitcoin Plan
The company reported earnings of $116.1 million in the last quarter. The figure analysts expected was $122.5 million. However Bitcoin Due to the increase in price, the dollar equivalent of the company’s reserve size increased significantly. The most important thing here is the target of raising funds of 42 billion dollars in the next 3 years.
The company announced that it would collect $42 billion in three years and buy Bitcoin with it. Although some of it will be spent on operational expenses, the majority will flow into BTC, just like previous bond issuances. Three conclusions emerge from this.
- MSTR shares should rise significantly.
- up to $42 billion BTC The purchase target will be an important step that will feed the supply shortage. The picture will be much more impressive, especially if we consider that the demand in the ETF channel will increase.
- Third and most importantly, the company obviously commits not to sell BTC for at least 3 years.
Robinhood reported $61 million in crypto revenue in the latest quarter, which was below expectations of $71.8 million due to low volume in the third quarter. Likewise, Coinbase reported revenue of $1.13 billion in the third quarter, against expectations of $1.25 billion.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
