BlockBeats reports that on December 26, Bloomberg reported that Bitcoin prices rose on Thursday after digital asset 'hoarder' MicroStrategy announced plans to split and issue more stock, allowing it to purchase more Bitcoin.
'MicroStrategy announced plans to issue more stock next year to buy more Bitcoin, which drove prices up,' said Sean McNulty, trading director at liquidity provider Arbelos Markets. 'The market is keenly anticipating MicroStrategy's Bitcoin purchases, which is one of the main reasons driving the market up. 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 stock and preferred stock. This move will provide the company with greater financial support as it has transformed from a software manufacturer to a Bitcoin accumulator.
