Bloomberg: Bitcoin rises due to MicroStrategy's plan to issue more stocks

According to Bloomberg, Bitcoin prices rose on Thursday after digital asset "hoarder" MicroStrategy announced plans to split and issue more shares, a move that will enable it to purchase more Bitcoins.

MicroStrategy announced next year's plan to issue more shares in order to buy more Bitcoins, which has pushed up the price, said Sean McNulty, head of trading at liquidity provider Arbelos Markets. The market is full of anticipation for MicroStrategy's Bitcoin purchases, which is one of the biggest reasons driving the market rise. Keeping an eye on MicroStrategy news has become an important part of my daily work.

According to documents submitted to the U.S. Securities and Exchange Commission (SEC) on December 23rd, MicroStrategy is seeking approval to increase the number of authorized Class A common shares and preferred shares. This move will provide greater financial support for this company that has transitioned from a software manufacturer into a Bitcoin accumulator.