🚀MicroStrategy, the NASDAQ-listed software firm and biggest corporate Bitcoin holder, is doing a 10-for-1 stock split! 🎉 Shareholders, get ready for 9 extra shares for each one you own. The split is set for Aug 1, with shares distributed after Aug 7 market close.
😂They say it's to make shares "more accessible to investors and employees." But we all know it's because their share price tripled over the past year, hitting a record of over $1,900 in March as BTC rallied past $70,000.
🧐MicroStrategy is often seen as a leveraged play on Bitcoin's price. They're not shy about issuing corporate debt to buy more Bitcoin. With their latest purchase, they're sitting on 226,331 BTC worth over $13 billion.
🤔Stock splits are common among companies whose shares have appreciated significantly. It doesn't change the company's valuation, but it does make the stock psychologically more accessible to smaller investors.
👇What do you think about this move? Is it a smart play or just a way to attract more retail investors? Let's discuss in the comments! #DeFi #Web3
P.S. Remember, if it's not about DeFi or Web 3, it's a "nope" from us. 😉