ChainCatcher news, according to Bloomberg, Bitcoin prices rose on Thursday after digital asset 'hoarder' MicroStrategy announced plans to split and issue more shares, allowing it to purchase more Bitcoin.
‘MicroStrategy announced plans to issue more shares next year to buy more Bitcoin, which drove the price up,’ said Sean McNulty, trading chief at liquidity provider Arbelos Markets. ‘The market is highly anticipating MicroStrategy's Bitcoin purchases, and this is one of the biggest reasons for the market's rise. Following news about MicroStrategy has become an important part of my daily work.’
According to documents submitted to the U.S. Securities and Exchange Commission (SEC) on December 23, MicroStrategy is seeking approval to increase the number of authorized Class A common shares and preferred shares. This move will provide greater funding support for the company, which has transformed from a software manufacturer to a Bitcoin accumulator.
