Bitcoin

<a href="https://www.microstrategy.com/" data-wpel-link="external" target="_blank" rel="nofollow external noreferrer">MicroStrategy</a>, a Nasdaq-listed business intelligence firm, has announced a 10-for-1 stock split of its Class A and B common stock. 
This decision, revealed on July 11, aims to increase stock accessibility for both investors and employees. 
The split will be executed as a stock dividend, providing stockholders with nine additional shares for each share they currently own. 
The distribution of these additional shares is scheduled for after trading closes on August 7, 2024. Trading on the split-adjusted stock will begin on August 8, 2024. Despite this change, the voting rights of stockholders will remain unchanged. 
MicroStrategy also emphasized its identity as a Bitcoin development company. 
The firm is committed to enhancing the Bitcoin network through its financial market activities. 
It has made Bitcoin its primary treasury reserve asset, underscoring its strategic focus on integrating Bitcoin into its operations. The company stated: 
“As an operating business, we are able to use cashflows as well as proceeds from equity and debt financings to accumulate Bitcoin, which serves as our primary treasury reserve asset.” 
READ MORE: <a href="https://www.cryptointelligence.co.uk/mt-gox-begins-long-awaited-bitcoin-repayments-sparking-market-volatility/" data-wpel-link="internal">Mt. Gox Begins Long-Awaited Bitcoin Repayments, Sparking Market Volatility</a> 
In addition to its Bitcoin initiatives, MicroStrategy is also involved in developing artificial intelligence software analytics solutions. 
This announcement follows the company’s plan to purchase more Bitcoin. 
On June 13, MicroStrategy disclosed its intention to conduct a $500 million stock sale to fund additional Bitcoin purchases. 
Subsequently, the company announced a plan to offer convertible senior notes due in 2032. 
Following these announcements, on June 14, MicroStrategy increased the stock sale volume to $700 million and confirmed that the notes would be sold to qualified investors. 
Nearly $800 million was eventually raised, with $786 million allocated to purchase 11,931 BTC. 
With this acquisition, MicroStrategy’s Bitcoin holdings total 226,331 BTC, valued at approximately $13.2 billion. 
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MicroStrategy Announces 10-for-1 Stock Split Amidst Major Bitcoin Acquisition Plans

Crypto Intelligence

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