MicroStrategy, known as one of the world’s most prominent bitcoin custodians, revealed plans for a major stock split on Thursday. The split, which is structured at a ratio of 10-for-1, is set to affect both class A and class B shares of MicroStrategy. Investors of record as of August 1 will receive nine additional shares after the markets conclude their activities on August 7, effectively increasing their holdings tenfold.

By lowering the price per share, MicroStrategy aims to make their stock more appealing and accessible to a broader base of investors. Such a move is seen as a potential catalyst for heightened interest and demand.

The trend of stock splits has been gaining traction among tech giants, with artificial intelligence chip manufacturers like Nvidia and Broadcom also recently making similar announcements. MicroStrategy, thus, joins a line of high-profile companies opting for stock splits.

Interestingly, MicroStrategy’s stock has experienced a dramatic rise in value this year, more than doubling to surpass the $1,000 mark per share. This growth is noteworthy, especially as the cryptocurrency market shows signs of stabilization, with Bitcoin trading in a narrow band below $60,000.

For the stakeholders, the split doesn’t alter the aggregate value of their MicroStrategy investments but could be instrumental in revitalizing market appetite. The adjustment could democratize investment opportunities, allowing a wider audience to partake in MicroStrategy’s journey.

Shares were trading at $1,362.50, reflecting a rise of over 4% around 11:30 a.m. ET on Thursday, shortly after the stock split announcement. The trading of the newly split shares will commence on August 8, marking a new chapter for MicroStrategy in the financial markets.