BlockBeats news, on December 26, according to Bloomberg, on Thursday, Bitcoin prices rose after digital asset 'hoarder' MicroStrategy announced plans to split and issue more shares, enabling it to buy more Bitcoin.
"MicroStrategy announced plans to issue more shares next year to buy more Bitcoin, which pushed up the price," said Sean McNulty, trading director at liquidity provider Arbelos Markets. "The market is very optimistic about MicroStrategy's Bitcoin purchases, and this is one of the biggest reasons driving the market up. Keeping an eye on MicroStrategy's news has become an important part of my daily work."
According to a document 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 stock and preferred stock. This move will provide the company with greater funding support as it has transformed from a software manufacturer to a Bitcoin accumulator.
