Bitcoin Holder MicroStrategy Joins Stock Split Bandwagon

MicroStrategy (MSTR), 1 of nan world's largest holders of bitcoin (BTC), said Thursday it is readying a 10-for-1 stock split, making it nan latest institution to denote a split.

Shares will beryllium divided for some MicroStrategy's people A and people B shares for holders of grounds arsenic of Aug. 1, pinch investors group to person 9 further shares aft markets adjacent connected Aug. 7 for each stock they owned previously. The first time of MicroStrategy's split-adjusted trading will beryllium connected Aug. 8.

Split Could Make MicroStrategy Stock More Accessible, and Boost Demand

While nan divided will not alteration nan wide worth of investors' MicroStrategy holdings, by lowing nan value of each MicroStrategy share, nan divided could thief make nan banal much accessible to investors and stimulate demand.

Shares successful nan institution person much than doubled successful worth this twelvemonth to complete $1,000 per stock aft nan U.S. Securities and Exchange Commission's approval of spot bitcoin ETFs successful January turbocharged nan token's prices.

However, immoderate of nan excitement astir bitcoin, which rose supra $73,000 successful March, has ebbed recently. The token is presently trading astatine a tight scope beneath $60,000.

MicroStrategy Move Comes After Nvidia, Broadcom Announced Stock Splits

MicroStrategy's divided comes aft a bid of caller banal divided announcements by different companies, including artificial intelligence spot stars Nvidia (NVDA) and Broadcom (AVGO).

Artificial intelligence darling Nvidia last period implemented a 10-for-1 split. AI chipmaker, Broadcom, is group for a 10-for-1 banal divided after markets adjacent Friday.

MicroStrategy shares were up complete 4% astatine $1,362.50 astatine astir 11:30 a.m. ET Thursday pursuing nan company's banal divided announcement.