- MicroStrategy announces a 10-for-1 stock split, making shares more accessible
- The company has accumulated 226,331 BTC, valued at approximately $13.2 billion
- MicroStrategy integrates AI solutions and plans further Bitcoin purchases
New Opportunities in Shares for MicroStrategy Employees and News for Bitcoin
As anticipated, the board of directors of Nasdaq-listed business intelligence company MicroStrategy has announced a major 10-for-1 stock split of its Class A and B common stock.
This decision was made to increase the accessibility of the shares for both investors and employees of the company.
On July 11, MicroStrategy announced that the stock split will be in the form of a stock dividend. This means that Class A and B shareholders will get nine extra shares for each share they already have.
The new shares will be distributed after the close of trading on August 7, 2024, and trading of the split-adjusted shares will begin on August 8, 2024. This won’t affect shareholders’ voting rights.
Focus on Bitcoin
MicroStrategy also said it sees itself as a Bitcoin (BTC) development company. This shows they’re still committed to making the Bitcoin network better through their work in the financial markets.
The company has been building up its Bitcoin reserves over time, using cash flows and proceeds from equity and debt financing to increase its BTC holdings. And this approach reflects the company’s strategy of integrating Bitcoin into its long-term vision.
MicroStrategy has also branched out into AI software analysis solutions, building on its involvement with Bitcoin and other tech projects.
They recently announced plans to buy more Bitcoin. On June 13, the company revealed its plans for a $500 million stock sale to purchase BTC. Next, they upped the sale price to $700 million. Finally, the sale raked in almost $800 million, with $786 million going towards buying 11,931 BTC.
This latest purchase means that MicroStrategy now owns 226,331 BTC, which is worth about $13.2 billion.
Metaplanet Buys $2.3 million in Bitcoin
Metaplanet, a company listed on the Tokyo Stock Exchange that is often compared to MicroStrategy, recently announced the acquisition of an additional 42.47 BTC for around 400 million Japanese yen (approximately 2.3 million US dollars). It is the company’s fifth Bitcoin purchase in four months.
This brings its total holdings to over 203 BTC, valued at about 2 billion yen (over $11 million). Metaplanet says the average purchase price per Bitcoin was about $58,500. Previous purchases were made on April 23, May 10, June 10, and July 1. After the third purchase, Metaplanet’s shares rose 10 percent.
Metaplanet’s move mirrors strategies adopted by other large firms such as MicroStrategy, which see Bitcoin as a hedge against the weakening yen and economic instability.
