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

According to Bloomberg, the price of Bitcoin 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 Bitcoin.

"MicroStrategy has announced that it will issue more shares next year in order to buy more Bitcoin, which has pushed up prices," said Sean McNulty, head of trading at liquidity provider Arbelos Markets. "The market is full of anticipation for MicroStrategy's purchase of Bitcoin, which is one of the biggest reasons driving the market rise. Paying attention to news about MicroStrategy 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 hoarder of Bitcoin.