Today marked the much-anticipated earnings report day, with numerous companies unveiling their latest quarterly figures. In a surprising turn of events, the price of Bitcoin 
surged to $72,500, up from $72,212. This increase is not entirely unexpected, considering the announcements from firms closely associated with cryptocurrencies, such as Robinhood, Coinbase, and MicroStrategy. What key Bitcoin strategy emerges from these reports?
### MicroStrategy’s Bitcoin Acquisition Strategy
MicroStrategy announced an earnings report of $116.1 million for the past quarter, which fell short of the analysts’ predictions of $122.5 million. Nevertheless, the surge in Bitcoin prices significantly enhanced the dollar value of the company’s reserves. The company has set an ambitious target to raise $42 billion over the next three years.
MicroStrategy intends to allocate the $42 billion it aims to raise primarily for Bitcoin purchases. While a portion of these funds will be used for operational costs, the majority will be directed towards acquiring more Bitcoin, mirroring their strategy from earlier bond issuances. This leads to three important conclusions:
1. MSTR shares are projected to see a significant increase.
2. The objective of acquiring up to $42 billion in Bitcoin will play a critical role in creating supply scarcity, particularly in light of the expected rise in demand from the ETF sector.
3. Most notably, the company seems determined not to sell any Bitcoin for at least the next three years.
In other reports, Robinhood disclosed a cryptocurrency revenue of $61 million for the last quarter, which was below the anticipated $71.8 million, attributed to reduced trading volumes in the third quarter. Similarly, Coinbase reported a revenue of $1.13 billion, falling short of the $1.25 billion expectation for the same period.
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**Disclaimer:** The information in this article is not intended as investment advice. Investors should recognize that cryptocurrencies are highly volatile and therefore carry risks, and should conduct their own research before making any investment decisions.
