MicroStrategy, the largest corporate holder of bitcoin, declared a 10-for-1 stock split on Thursday.
MicroStrategy, the largest corporate holder of bitcoin, announced a 10-for-one stock split on Thursday.
The move comes amid a lull in the price of bitcoin, which has been stuck in a tight range since for four months.The company said the shares will be split into class A common stock and class B common stock"to make MicroStrategy's stock more accessible to investors and employees." The move comes amid a lull for the price of bitcoin, which has been stuck in a tight range since about March but which many investors expect to rebound in the second half of the year.
MicroStrategy plans to pay a dividend to shareholders on Aug. 1, which will give them an additional 9 shares for every 1 they hold – to be distributed after trading closes on Aug. 7. The stock will begin trading on a post-split basis Aug. 8.in 2020 and has primarily traded as a proxy for the flagship cryptocurrency's price since then. This February, the company said it would shift its company focus and brand to bitcoin development.
MicroStrategy stock is up 106% this year, compared to bitcoin's 38% gain; and 216% in the past 12 months, compared to bitcoin's 91% advance.Bitcoin is holding support and ready to make another run at a record, according to the charts
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