On December 26th, according to Bloomberg, the price of Bitcoin rose after digital asset 'hoarder' MicroStrategy announced plans to split and issue more shares, a move that will enable it to purchase more Bitcoin.
'MicroStrategy announced plans to issue more shares next year to buy more Bitcoin, which pushed the price up,' said Sean McNulty, trading director at liquidity provider Arbelos Markets. 'The market is eagerly anticipating MicroStrategy's Bitcoin purchases, which is one of the main reasons for the market's rise. Keeping an eye on MicroStrategy's news has become an important part of my daily work.'



According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on December 23rd, MicroStrategy is seeking approval to increase the number of authorized Class A common shares and preferred shares. This move will provide the company with greater financial support as it has transformed from a software manufacturer into a Bitcoin accumulator.

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