đŠ Fidelity names Bitcoinâs new source of buying pressure: perpetual preferred stock
While everyone watches ETF fund flows, another channel for buying Bitcoin has been quietly growing.
According to the latest report from Fidelity Digital Assets, since these products first appeared in July 2025, perpetual preferred stock issued by companies such as Strategy and Strive had funded the purchase of 135,979 BTC as of October 5âmore than 0.5% of Bitcoinâs total supply of 21 million.
đč The market is worth around $12 billion
đč In MarchâMay 2026 alone, more than $7 billion was raised, funding purchases of over 95,000 BTC
đč Investors receive dividend payments similar to fixed income; they donât hold Bitcoin directly or buy ETFs
Fidelity puts it plainly: this model works only if Bitcoin rises faster than the cost of the dividends that have to be paid.
My take: This turns money seeking âstable returnsâ into buying demand for Bitcoin, making it a genuine source of incremental demand beyond ETFs. But itâs inherently procyclical: when prices rise, fundraising is easier and purchases grow; if prices move sideways for a long time or fall, the pressure to pay dividends doesnât go away. When tracking this trend, donât just look at how many coins were boughtâpay close attention to whether issuance is slowing down.
Do you think preferred-stock buying is a long-term source of support, or an accelerator in a bull market? Letâs discuss in the comments đ
#æŻçčćž #BTC #æșæè”é #Fidelity
While everyone watches ETF fund flows, another channel for buying Bitcoin has been quietly growing.
According to the latest report from Fidelity Digital Assets, since these products first appeared in July 2025, perpetual preferred stock issued by companies such as Strategy and Strive had funded the purchase of 135,979 BTC as of October 5âmore than 0.5% of Bitcoinâs total supply of 21 million.
đč The market is worth around $12 billion
đč In MarchâMay 2026 alone, more than $7 billion was raised, funding purchases of over 95,000 BTC
đč Investors receive dividend payments similar to fixed income; they donât hold Bitcoin directly or buy ETFs
Fidelity puts it plainly: this model works only if Bitcoin rises faster than the cost of the dividends that have to be paid.
My take: This turns money seeking âstable returnsâ into buying demand for Bitcoin, making it a genuine source of incremental demand beyond ETFs. But itâs inherently procyclical: when prices rise, fundraising is easier and purchases grow; if prices move sideways for a long time or fall, the pressure to pay dividends doesnât go away. When tracking this trend, donât just look at how many coins were boughtâpay close attention to whether issuance is slowing down.
Do you think preferred-stock buying is a long-term source of support, or an accelerator in a bull market? Letâs discuss in the comments đ
#æŻçčćž #BTC #æșæè”é #Fidelity