According to CoinVoice, Bitcoin prices rose on Thursday 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 purchase more Bitcoin, which drove up prices,” said Sean McNulty, head of trading at liquidity provider Arbelos Markets. “The market is excited about MicroStrategy's Bitcoin purchases, which is one of the biggest reasons for the market's rise. Keeping up with the latest developments from MicroStrategy 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 23, 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 funding support as it has transformed from a software manufacturer into an accumulator of Bitcoin. [Original link]
