MicroStrategy, a well-known pro-Bitcoin company, recently announced a significant 10-to-1 stock split, with the aim of increasing the accessibility of its shares for both investors and employees.
This strategic move is designed to make the company’s shares more affordable, encouraging greater participation in the stock market. Let’s look at all the details below.
New opportunities in stocks for MicroStrategy employees and news for Bitcoin
As anticipated, the board of directors of MicroStrategy, a business intelligence company listed on Nasdaq, has announced a significant 10-for-1 stock split of its class A and B common shares.
This decision was made to increase accessibility of the shares for both investors and company employees.
On July 11, MicroStrategy announced that the stock split will be carried out in the form of a stock dividend. This means that class A and B shareholders will receive nine additional shares for each share owned.
The new shares will be distributed after the close of trading on August 7, 2024, while trading of the shares adjusted for the split will begin on August 8, 2024.
Important to note that the voting rights of the shareholders will not be affected by this operation.
Focus on the development of Bitcoin
MicroStrategy has also stated that it considers itself a Bitcoin development company (BTC). Thus demonstrating a constant commitment to improving the Bitcoin network through its activities in the financial markets.
The company has accumulated Bitcoin as the main treasury reserve asset, using cash flows and proceeds from equity and debt financing to increase its BTC reserve.
This approach reflects the company’s strategy to integrate Bitcoin into its long-term vision.
In addition to its involvement with Bitcoin, MicroStrategy has also ventured into the field of software analytics of artificial intelligence (AI). Further expanding its technological initiatives.
Recently, MicroStrategy announced its intention to purchase additional Bitcoin. On June 13, the company revealed its plans for a stock sale of 500 million dollars, intended for the purchase of BTC.
Subsequently, the sales volume was increased to 700 million dollars. Finally, the sale raised almost 800 million dollars, with 786 million dollars used to purchase 11,931 BTC.
With this latest purchase, MicroStrategy now owns 226,331 BTC, with a total value of approximately 13.2 billion dollars.
Metaplanet increases its Bitcoin reserves with a $2.3 million purchase
Metaplanet, a company listed on the Tokyo Stock Exchange and often compared to MicroStrategy, has recently announced the acquisition of an additional 42.47 BTC.
This for a value of approximately 400 million Japanese yen (equivalent to about 2.3 million dollars). This move represents the fifth purchase of Bitcoin made by the company in the last four months.
Bringing its total holdings to over 203 BTC, valued at approximately 2 billion yen (over 11 million dollars). According to Metaplanet, the average purchase price for each Bitcoin was about $58,500.
The previous purchases were made on April 23, May 10, June 10, and July 1. After the third purchase, Metaplanet shares recorded a 10% increase.
Metaplanet, a company specialized in hotel and real estate development, has recently oriented its strategy towards investing in Bitcoin.
In particular, using it as a store of value to counter the economic challenges that Japan is facing.
The move by Metaplanet reflects the strategies adopted by other large companies like MicroStrategy, which see Bitcoin as a hedge against the weakening of the yen and economic instability.
