Fidelity: perpetual preferreds funded purchases of 135,979 BTC
- —135,979 BTC bought with perpetual preferred proceeds, over 0.5% of supply
- —Fidelity pegs the perpetual preferred market at roughly $12 billion
- —Strategy repurchased $193.1 million of STRC and bought 267 BTC on Oct 12–18
- —Strategy raised its preferred buyback authorization to $3 billion
Why it matters: Perpetual preferreds draw dividend-focused investors into bitcoin but impose a recurring cash burden on issuers.
Source: TokenPost