MicroStrategy, based in Tysons, Virginia, and the largest corporate holder of Bitcoin, will split its stock 10-for-1.
The stock split will be awarded to shareholders of record as of Aug. 1, and will begin trading on a stock split-adjusted price on Aug. 8.
MicroStrategy stock has soared about 1,000% since founder Michael Saylor began buying Bitcoin as a hedge against inflation in 2020. Its stock currently trades around $1,350 a share.
The 10-for-1 split applies to both holders of Class A common stock and Class B shares. MicroStrategy announced the split “to make MicroStrategy’s stock more accessible to investors and employees.”
Saylor founded MicroStrategy in 1989 as one of the first data mining companies and remains an industry leading AI-powered enterprise analytics software company, but now considers itself the world’s first “Bitcoin development company.”
Bloomberg has called Saylor one of the most prominent advocates for the cryptocurrency. In its most recent regulatory filing, MicroStrategy reported 214,400 Bitcoin holdings with a value of $7.54 billion.
Saylor himself has a personal net worth of $4.1 billion, according to Fortune.
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