US-listed software analytics and bitcoin hoarder MicroStrategy (MSTR:NASDAQ) is primed to pull the trigger on a 10-for-one stock split after the close of trading tonight (1 Aug).

All shareholders will receive nine additional shares for each one they own, which are expected to be distributed after markets close on 7 August, with trading starting from 8 August.

Investors have become familiar with share splits after some of the world’s biggest and most popular companies chose to sub-divide their equity, including Nvidia (NVDA:NASDAQ), Walmart (WMT:NYSE) and Broadcom (AVGO:NASDAQ) this year, plus Apple (AAPL:NASDAQ), Amazon (AMZN:NASDAQ), Tesla (TSLA:NASDAQ) and Alphabet (GOOG:NASDAQ) since 2020.

MicroStrategy, led by founder and executive chairman Michael Saylor, has become a bitcoin proxy for thousands of investors after hoarding the world’s largest collection of the cryptocurrency among listed businesses.

As of end June 2024, the company is believed to have amassed 226,331 bitcoins, worth an estimated $15 billion, about half the company’s $29.9 billion market value.

The firm’s strategy is to borrow money to buy bitcoin, and repay the fiat debt by selling less bitcoin in the future, a plan that relies on Bitcoin continuing to increase in value.

Data from the company in April 2024 says MicroStrategy paid an average $35,180 per bitcoin, versus the current $66,506 market price. 

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