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

Mục lục

crypto.news

Các bài viết khác được xuất bản trên 11 thg 7, 2024

Bitcoin price struggles as investors expect Fed interest rate cuts — Why?

German Bitcoin Sales Impact Wanes, What’s Next?

SEC will not pursue enforcement action against Paxos

MoonBag Dominates Best Meme Coin Presale, Leaving GALA & VeChain Behind

PEPE’s price action depends on these whales – All the details

What’s the Top Bullish Cryptocurrency Now? Featuring BlockDAG’s 1300% Surge and Rising Prices in ...

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!