Cashapp's Bitcoin sales have risen by 25 % since the last quarter

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Von Krypto News Österreich

The quarterly winning reports begin to roar in the entire financial sector and update the state of crypto acceptance in the entire industry.

Although some companies understandably still feel the cold of the crypto winter, it is better than expected from analysts. For companies with other priorities, which still introduced crypto to a certain extent, such as Microstrategy, the investment class has so far proven to be part of its success.

exceed expectations and forecasts of empty sellers

Block - better known as his earlier name Square, which is still used for his business platform - has despite doubts that were partially fed by a report published by empty sellers at Hindenburg Research, a slight increase in sales and profit per share. According to reports, the company is now considering legal steps against the company.

"We intend to work with the SEC and to examine legal steps against Hindenburg Research for the factually inaccurate and misleading report that you have shared today via our cash app business.

Although the quarterly results were quite good, the Stock share experienced a dive shortly after the report was published. Fortunately for its investors, the company reported that its profit per share is now 40 cents, in contrast to the forecasts of the analysts of 35 cents. At the time of the creation of this article, the company's shares were worth almost $ 60, according to Marketwatch.

The role of Bitcoin when restoring blocks

Jack Dorsey, the co-founder and former CEO of Twitter, who is currently CEO of Block, has long been a Bitcoin supporter. In this quarter, cryptocurrency played an important role in the financial result of its company, with results that could indicate an even greater success in the future.

According to Block, Bitcoin sales on Cashapp-one of Block's most hyped products-benefited from 25 %since last year. This is in blatant contrast to the previous quarter report, in which Bitcoin sales had decreased by 7 % in the year.

Although the income from BTC sales only amounts to a total of $ 50 million of the total gross profit of the company of $ 1.71 billion, the results nevertheless prove that Bitcoin's acceptance rates are still increasing for the general public.

Since institutional investors continue to accumulate BTC with more traditional financial products, it is important to keep simple ways to access the public for access to crypto - and can lead to winning, as the financial data of blocks show.

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