CoinVoice has learned that, according to Bloomberg, the price of Bitcoin rose on Thursday after digital asset 'hoarder' MicroStrategy announced plans to split and issue more stock, enabling it to purchase more Bitcoin.
“MicroStrategy announced plans to issue more stock next year to purchase more Bitcoin, which drove up prices,” said Sean McNulty, head of trading at liquidity provider Arbelos Markets. “The market is eagerly anticipating MicroStrategy's Bitcoin purchases, which is one of the biggest reasons for the market rally. Keeping up with the latest insights on MicroStrategy has become an important part of my daily work.”
According to documents filed with 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 an accumulator of Bitcoin.[Original link]
