MicroStrategy, the largest corporate holder of Bitcoin, announced a 10-fold stock split. The split will be effected on August 1st, with shares to be distributed after the market closes on August 7th. Holders of Class A and Class B shares will receive nine additional shares for each share they own.

The company said the separation will make the company's shares "more accessible to investors and employees." The announcement follows MicroStrategy shares tripling over the past year, reaching a record high of over $1,900 in March.