Nasdaq-listed software firm MicroStrategy (MSTR), the largest corporate holder of bitcoin (BTC), announced a 10-for-1 stock split to effect on Aug. 1, aiming to make shares 'more accessible to investors and employees.'
MicroStrategy's share price more than tripled over the past year, hitting an all-time record in March. The company, led by Michael Saylor, is a leveraged play on bitcoin, holding 226,331 BTC worth over $13 billion.
Stock splits like MicroStrategy's are common for companies with significantly appreciated shares. The split doesn't change valuation but makes shares more accessible. Nvidia also saw a 10:1 split recently after a surge.
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