MicroStrategy Announces Stock Split and Expands Bitcoin Holdings
MicroStrategy announced a 10-for-1 stock split of its Class A and B common stock on July 11.
This move aims to increase accessibility for investors and employees by granting nine additional shares per share owned through a stock dividend.
The distribution of these shares will occur after trading closes on August 7, 2024, with trading on the split-adjusted stock beginning the following day.
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Bitcoin to Resume Bull Trend Next Month, According to JPMorganDespite the split, voting rights for shareholders will remain unchanged. MicroStrategy also reiterated its focus as a Bitcoin development company, highlighting its strategy to accumulate Bitcoin as its primary treasury reserve asset.
This commitment involves using cashflows, equity, and debt proceeds to bolster its Bitcoin holdings.
In addition to its Bitcoin initiatives, MicroStrategy has expanded into artificial intelligence software analytics solutions. Recently, the firm conducted a stock sale initially targeting $500 million but ultimately raising nearly $800 million to acquire more BTC.
This move added 11,931 BTC to its reserves, bringing its total holdings to approximately 226,331 BTC, valued at about $13.2 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
