Bitcoin

MicroStrategy’s board of directors approved a 10-for-1 stock split for both its class A and class B common stock.&nbsp;
This stock split will make the stock more accessible to investors and employees.&nbsp;After the announcement, shares (<a href="https://www.marketwatch.com/investing/stock/mstr" data-type="link" data-id="https://www.marketwatch.com/investing/stock/mstr" target="_blank" rel="noopener noreferrer nofollow">MSTR</a>) of the software company, which is also known for its significant investments in Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>), rose by 7.5% in intra-market trading.
Conventionally, a 10-1 stock split would mean that for every one share an investor owns, they will receive ten shares, with each new share worth one-tenth of the original share’s price.
Similarly, <a href="https://crypto.news/tag/microstrategy/" target="_blank" rel="noopener noreferrer nofollow">MicroStrategy’s</a> stock split will be executed through a stock dividend. As of the close of business on August 1, 2024, shareholders will receive nine additional shares for each share they own. The distribution of these additional shares is expected to occur after the close of trading on August 7, 2024, with trading on a split-adjusted basis beginning on August 8, 2024.
This stock dividend will not affect the shareholders’ voting rights or other privileges.
<h2 class="wp-block-heading" id="bitcoin-purchases">Bitcoin purchases&nbsp;</h2>
MicroStrategy’s strategy of purchasing Bitcoin as a hedge against the devaluation of its reserve assets has been well-received by investors, contributing to the stock’s appeal and credibility within the crypto community.
Since the company began acquiring Bitcoin in 2020 amid a slowdown in its software business, it has become the largest corporate holder of Bitcoin. This strategic shift has correlated with a significant rise in the company’s stock value, which has surged 107% in 2024, compared to Bitcoin’s roughly 40% increase over the same period.&nbsp;
On June 20, MicroStrategy <a href="https://crypto.news/microstrategy-buys-12000-new-btc/" target="_blank" rel="noopener noreferrer nofollow">purchased</a> 11,931 BTC for $786 million in cash “using proceeds from convertible notes,” said the firm’s founder Michael Saylor.
At the time of writing, MSTR is up 7.3% today and is priced at $1401.06 a share. The company reached an all-time high of $1,999.9d in March.

Bitcoin buyer Microstrategy announces 10-for-1 stock split

Table of Contents

crypto.news

Muita 11. heinäk. 2024 julkaistuja artikkeleja

Crypto Craze: Republicans See Digital Currency Shaping 2024 Elections — Survey

Solana ETF Deadline 2025: Unveiling Political Factors and Market Predictions

Crypto Terror Financing: Cyprus Calls for Global Crackdown, Highlight Role of Financial Gatekeepers

Supreme Court ruling ‘changes the game’ for US crypto firms

Institutional Investors Eye DeFi: DWF Labs Partners with TrueFi

The Next Big Cryptos Ready to Explode in 2024

Join our free newsletter for daily crypto updates!