MicroStrategy (SYM: MSTR) will split 10:1 after the closing bell.
While it won’t change any of the company’s fundamentals, it will make the stock far more attractive at a lesser cost to more investors. Using its current price of $1,460, the split will bring it down to about $146 by Monday’s open.
However, we don’t expect for MSTR to stay below a post-split price for long.
For one, should Donald Trump win a second term, the crypto-bull has already said he would make the US the “crypto capital of the world,” which could send Bitcoin prices even higher. It would also take MSTR higher, too, considering the company now owns 214.246 BTC.
Two, billionaire Mark Cuban just called a California plan to digitize 42 million car titles using blockchain “an amazing step forward” and “huge” for crypto, as noted by Forbes.com.
“The reason why this is huge for crypto is because the people holding the tokens will have an app with an avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet over the next five years, or however long it takes, normalizes the use of wallets and crypto.”
