Bitcoin
Bitcoin (BTC)
$66,967.00 5.19475
Bitcoin price
Ethereum
Ethereum (ETH)
$3,502.13 2.66944
Ethereum price
BNB
BNB (BNB)
$593.58 4.3108
BNB price
Solana
Solana (SOL)
$169.05 7.57968
Solana price
XRP
XRP (XRP)
$0.5751410 1.25308
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000180 5.3668
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000128 12.39026
Pepe price
Bonk
Bonk (BONK)
$0.0000313 20.54012
Bonk price
Bitcoin
Bitcoin (BTC)
$66,967.00 5.19475
Bitcoin price
Ethereum
Ethereum (ETH)
$3,502.13 2.66944
Ethereum price
BNB
BNB (BNB)
$593.58 4.3108
BNB price
Solana
Solana (SOL)
$169.05 7.57968
Solana price
XRP
XRP (XRP)
$0.5751410 1.25308
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000180 5.3668
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000128 12.39026
Pepe price
Bonk
Bonk (BONK)
$0.0000313 20.54012
Bonk price
Bitcoin
Bitcoin (BTC)
$66,967.00 5.19475
Bitcoin price
Ethereum
Ethereum (ETH)
$3,502.13 2.66944
Ethereum price
BNB
BNB (BNB)
$593.58 4.3108
BNB price
Solana
Solana (SOL)
$169.05 7.57968
Solana price
XRP
XRP (XRP)
$0.5751410 1.25308
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000180 5.3668
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000128 12.39026
Pepe price
Bonk
Bonk (BONK)
$0.0000313 20.54012
Bonk price
Bitcoin
Bitcoin (BTC)
$66,967.00 5.19475
Bitcoin price
Ethereum
Ethereum (ETH)
$3,502.13 2.66944
Ethereum price
BNB
BNB (BNB)
$593.58 4.3108
BNB price
Solana
Solana (SOL)
$169.05 7.57968
Solana price
XRP
XRP (XRP)
$0.5751410 1.25308
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000180 5.3668
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000128 12.39026
Pepe price
Bonk
Bonk (BONK)
$0.0000313 20.54012
Bonk price

Bitcoin buyer Microstrategy announces 10-for-1 stock split

bitcoin-buyer-microstrategy-announces-10-for-1-stock-split
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Bitcoin buyer Microstrategy announces 10-for-1 stock split

MicroStrategy’s board of directors approved a 10-for-1 stock split for both its class A and class B common stock. 

This stock split will make the stock more accessible to investors and employees. After the announcement, shares (MSTR) of the software company, which is also known for its significant investments in Bitcoin (BTC), rose by 7.5% in intra-market trading.

Conventionally, a 10-1 stock split would mean that for every one share an investor owns, they will receive ten shares, with each new share worth one-tenth of the original share’s price.

Similarly, MicroStrategy’s stock split will be executed through a stock dividend. As of the close of business on August 1, 2024, shareholders will receive nine additional shares for each share they own. The distribution of these additional shares is expected to occur after the close of trading on August 7, 2024, with trading on a split-adjusted basis beginning on August 8, 2024.

This stock dividend will not affect the shareholders’ voting rights or other privileges.

Bitcoin purchases 

MicroStrategy’s strategy of purchasing Bitcoin as a hedge against the devaluation of its reserve assets has been well-received by investors, contributing to the stock’s appeal and credibility within the crypto community.

Since the company began acquiring Bitcoin in 2020 amid a slowdown in its software business, it has become the largest corporate holder of Bitcoin. This strategic shift has correlated with a significant rise in the company’s stock value, which has surged 107% in 2024, compared to Bitcoin’s roughly 40% increase over the same period. 

On June 20, MicroStrategy purchased 11,931 BTC for $786 million in cash “using proceeds from convertible notes,” said the firm’s founder Michael Saylor.

At the time of writing, MSTR is up 7.3% today and is priced at $1401.06 a share. The company reached an all-time high of $1,999.9d in March.