MicroStrategy, a business intelligence firm listed on Nasdaq, has revealed a significant 10-for-1 stock split for its Class A and B common stock.
On July 11, MicroStrategy announced that the stock split is aimed at making its shares more accessible to investors and employees. The stock split will be executed as a stock dividend, providing stockholders with nine additional shares for every share they own.
Key Dates for the Stock Split
The new shares will be distributed after trading closes on August 7, 2024. Trading on the split-adjusted stock will begin on August 8, 2024. Importantly, the stock split will not affect the voting rights of stockholders.
MicroStrategy’s Bitcoin Commitment
In the announcement, MicroStrategy reiterated its commitment to Bitcoin. The company considers itself a Bitcoin development company and has made Bitcoin its primary treasury reserve asset. MicroStrategy uses cash flows and proceeds from equity and debt financings to accumulate Bitcoin.
MicroStrategy is actively increasing its Bitcoin holdings. On June 13, the company announced plans for a $500 million stock sale to buy more Bitcoin. Shortly after, on June 14, it increased the sale volume to $700 million, targeting qualified investors. Ultimately, the sale raised nearly $800 million, with $786 million used to purchase 11,931 BTC.
Besides its focus on Bitcoin, MicroStrategy is also involved in artificial intelligence software analytics solutions.
With its latest Bitcoin purchase, MicroStrategy now holds 226,331 BTC, worth about $13.2 billion. The firm’s ongoing commitment to Bitcoin and innovative technology highlights its strategy to integrate digital assets and AI into its business model.
