Here’s one more way cryptocurrencies are mimicking the dot-com frenzy as they capture popular attention: massive stock splits.
Greyscale Investments announced that its Bitcoin Investment Trust -- an open-ended fund that provides the purest exposure to owning the most popular currency short of owning the underlying asset -- will undergo a 91-for-1 split on Jan. 26. That’ll turn the 1.9 million shares currently outstanding into a whopping 174.4 million. Based on today’s trading, it would cut the stock price from around $1,950, where it currently sits, to roughly $21.
