MicroStrategy Inc (NASDAQ:MSTR) stock is surging today, after the Bitcoin buyer announced a 10-for-1 stock split , making the shares more accessible to investors and employees.
The software company and major holder of bitcoin BTCUSD, +0.73% announced Thursday morning that it plans to conduct a 10-for-1 split of its stock in early August. MicroStrategy shares MSTR, +5.34% closed Wednesday at $1,305.72.
The software company says its board of directors have declared a 10-for-1 stock split to make shares more accessible to investors and employees.
MicroStrategy, the largest corporate holder of bitcoin, announced a 10-for-one stock split on Thursday.
MicroStrategy said on Thursday its board of directors has decided in favor of a 10-for-1 stock split of its class A and class B common stock, sending shares of the software company that invests in bitcoin up 4% before the bell.
MicroStrategy is an enterprise software company that uses Bitcoin as its primary treasury asset. This corporate strategy helped the stock gain popularity as an alternative to buying Bitcoin through an exchange.
MicroStrategy amassed more than $7.5 billion in Bitcoin over the past four years. It diluted its shares and took on a lot of debt to fund those purchases.
MicroStrategy Inc.'s stock has been one of the best-performing equities in the U.S. since it adopted bitcoin as its primary treasury-reserve asset four years ago, according to bitcoin financial-services firm NYDIG.
The largest crypto was falling on Friday despite a major purchase of the crypto by software company MicroStrategy.
Nasdaq-listed software firm MicroStrategy (MSTR) has expanded its substantial bitcoin (BTC) holdings, acquiring an additional 11,931 BTC for $786 million. This latest acquisition further cements MicroStrategy's position as the largest corporate holder of bitcoin. MicroStrategy's bitcoin accumulation strategy Led by Executive Chairman Michael Saylor, MicroStrategy began its aggressive bitcoin accumulation in 2020.
MicroStrategy has a large exposure to Bitcoin, and that can make its earnings incredibly volatile and unpredictable. Is the stock a buy today?
MicroStrategy (NASDAQ: MSTR), currently trading at approximately $1,495.54, has experienced a remarkable year-to-date increase of 118.28%. This surge is fueled by the company's aggressive Bitcoin (BTC) acquisition strategy, transforming it into the largest publicly traded corporate holder of Bitcoin.