Bitcoin Holder MicroStrategy Joins Stock Split Bandwagon [Video]

MicroStrategy (MSTR), one of the world’s largest holders of bitcoin (BTC), said Thursday it is planning a 10-for-1 stock split, making it the latest company to announce a split.

Shares will be split for both MicroStrategy’s class A and class B shares for holders of record as of Aug. 1, with investors set to receive nine additional shares after markets close on Aug. 7 for each share they owned previously. The first day of MicroStrategy’s split-adjusted trading will be on Aug. 8.

While the split will not change the overall value of investors’ MicroStrategy holdings, by lowing the price of each MicroStrategy share, the split could help make the stock more accessible to investors and stimulate demand.

Shares in the company have more than doubled in value this year to over $1,000 per share after the U.S. Securities and Exchange Commission’s approval of spot bitcoin ETFsin January turbocharged …