MicroStrategy (MSTR), one of the world's largest holders of bitcoin (BTC), said Thursday it is planning a 10-for-1 澳洲幸运5官方开奖结果体彩网: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.

Split Could Ma♔ke MicroStrategy Stock More Accessible, and Boost De♍mand

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 澳洲幸运5官方开奖结果体彩网:approval of spot bitcoin ETFs in January turbocharged the token's prices.

However, some of the excitement around bitcoin, which 澳洲幸运5官方开奖结果体彩网:rose above $73,000 in March, has ebbed 💖recently. The token is currently trading at 🌸a tight range below $60,000.

MicroStrategy Move Comes After Nvidia, Broadcom Announced Sto🎀ck Splits

MicroStrategy's split comes after a series of recent stock split announcements by other companies, including artificial intelligence chip stars Nvidia (NVDA) and Broadcom (AVGO).

Artificial intelligence darling Nvidia 澳洲幸运5官方开奖结果体彩网:last month implemented a 10-for-1 split. AI chipmaker, Broadcom, is set for a 10-for-1 stock split 澳洲幸运5官方开奖结果体彩网:after markets close Friday.

MicroStrategy shares were up over 4% at $1,362.50 at around 11:30 a.m. ET Thursday following the company's stock split announcement.