The stock of the software company MicroStrategy, known for its substantial Bitcoin holdings, recorded a remarkable price increase in 2024. With a gain of 115 percent, the stock price peaked at 1,999.99 US dollars. Most recently, the stock closed at 1,358.56 US dollars.

To make the shares appear more affordable, MicroStrategy announced a 1-for-10 stock split on Thursday. Both Class A and Class B common stocks are affected.

The company stated that the stock split is intended to make the shares more accessible to investors and employees. The measure applies to all shareholders who hold shares of the company at the end of the trading day on August 1. Each shareholder will receive nine additional shares for each share held in the form of a stock dividend. The new shares will be credited on August 7, and MicroStrategy stock is expected to trade on a split-adjusted basis starting August 8.

According to the company's press release, voting and other shareholder rights remain unaffected.

MicroStrategy pursues an aggressive Bitcoin acquisition strategy and is the company with the largest Bitcoin holdings worldwide. Currently, MicroStrategy owns 226,331 Bitcoins, which have a total value of approximately 12.9 billion US dollars at a market price of around 57,000 US dollars per coin.

MicroStrategy is not the first company to conduct a stock split in 2024 in light of strong price performance. NVIDIA and Broadcom have also undertaken similar measures at a 1:10 ratio this year.

The announcement of the stock split was positively received by investors. In NASDAQ trading on Thursday, the stock increased by 4.05 percent to 1,358.56 US dollars. On Friday, there was profit-taking, before the stock rose again by 2.81 percent to 1,396.76 US dollars.