Bitcoin Buyer MicroStrategy to Conduct 10-for-1 Stock Split
07/11/2024 20:18
(Bloomberg) -- MicroStrategy Inc., the largest publicly-traded corporate holder of Bitcoin, said it will conduct a 10-for-1 stock split to make the shares more accessible to investors and employees. Most Read from BloombergSaudis Warned G-7 Over Russia Seizures With Debt Sale ThreatArchegos’ Bill Hwang Convicted of Fraud, Market ManipulationModi’s Embrace of Putin Irks Biden Team Pushing Support for KyivBiden Aides to Meet Senators After Pelosi Remarks Deal BlowNATO Singles Out China Over Its Su
(Bloomberg) -- MicroStrategy Inc., the largest publicly-traded corporate holder of Bitcoin, said it will conduct a 10-for-1 stock split to make the shares more accessible to investors and employees.
Most Read from Bloomberg
Saudis Warned G-7 Over Russia Seizures With Debt Sale Threat
Archegos’ Bill Hwang Convicted of Fraud, Market Manipulation
Modi’s Embrace of Putin Irks Biden Team Pushing Support for Kyiv
NATO Singles Out China Over Its Support for Russia in Ukraine
The shares have surged around 1,000% since the enterprise software company started buying Bitcoin in 2020. The stock, which closed at $1,305.72 on Wednesday, was up about 4% in pre-market trading.
Michael Saylor, the chairman and co-founder of MicroStrategy, had the firm buy Bitcoin as an inflation hedge and alternative to holding cash.
(Adds byline.)
Most Read from Bloomberg Businessweek
At SpaceX, Elon Musk’s Own Brand of Cancel Culture Is Thriving
Ukraine Is Fighting Russia With Toy Drones and Duct-Taped Bombs
©2024 Bloomberg L.P.