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 鈥渢o make MicroStrategy鈥檚 stock more accessible to investors and employees.鈥�
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鈥檚 first 鈥淏itcoin development company.鈥�
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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