Michael Saylor, the Bitcoin billionaire, has revealed MicroStrategy's plans for a 10-for-1 stock split. The announcement came on Thursday, sending ripples through the crypto and tech sectors, many were caught by surprise and thought this came out of the blue.

MicroStrategy, Saylor's brainchild, is a dual-purpose company. It develops business intelligence software and holds Bitcoin. The stock split aims to make shares more accessible to smaller investors.

"The stock split will be effected by means of a stock dividend," MicroStrategy stated in a press release. The record date is set for August 1, 2024.

Investors will receive nine additional shares for each one they own. This applies to both Class A and Class B stock.

The split is scheduled for August 7, after market close. Trading on a split-adjusted basis will kick off on August 8.

It's worth noting that a stock split doesn't change an investor's stake in the company. The fundamental value of their portfolio remains the same.

However, the split will dilute individual share prices, this can look alarming on stock charts without proper context.

Joe Burnett, Senior Product Marketing Manager at Unchained, sees potential in the move. "Now the plebs will soon be able to afford to play the MSTR call option game," he said.

Burnett added, "Market makers will sell these call options and hedge their positions by purchasing thousands, possibly millions, of shares."

MSTR shares closed at $1305 on Wednesday. The stock has skyrocketed 216% over the past year, outpacing Bitcoin itself. Which is fascinating, as some people obviously believe in Saylor more than they believe in Bitcoin, in which Saylor believes so passionately.

MicroStrategy is the world's largest corporate Bitcoin holder. It owns 226,331 BTC, valued at $13.33 billion.

The company's market cap stands at $23.16 billion, according to Google Finance. This indicates a significant premium over its Bitcoin holdings.