MicroStrategy shares surged 3% after executive chairman Michael Saylor announced a 10-for-1 stock split to make shares more accessible to smaller investors.
The split, effective August 8, will provide shareholders with nine additional shares for each share held as of August 1, 2024. While this will lower the price of individual shares, overall ownership proportions remain unchanged.
In May, Stokr tokenized MSTR stock on Bitcoin’s Liquid sidechain, allowing fractional trading. As of Wednesday, MSTR traded at $1,356 with a market cap of $24 billion, up 97% year-to-date, significantly outperforming Bitcoin’s 30% rise.
MicroStrategy, the largest corporate holder of Bitcoin with 226,331 BTC worth $13.04 billion, has raised funds through several large convertible note sales to buy more BTC.
Other companies, such as Semler Scientific and Metaplanet, are adopting similar strategies to increase their Bitcoin holdings.
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