According to ChainCatcher news and Bloomberg reports, Bitcoin's price rose on Thursday after digital asset 'hoarder' MicroStrategy announced plans to split and issue more shares, which will enable it to purchase more Bitcoin.
MicroStrategy announced that it will issue more shares next year to buy more Bitcoin, which has driven up prices, 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 for the market surge. Keeping up with 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.
