Fidelity says perpetual preferred stocks have funded over 135,000 Bitcoin purchases
Fidelity Digital Assets reports that perpetual preferred stock offerings by Bitcoin treasury companies have been used to buy 135,979 BTC, which is more than 0.5% of Bitcoin’s total supply as of Oct. 5, 2026. Between March and May 2026, these issuances financed more than 95,000 BTC and raised over $7 billion. The firm says the model links fixed‑income investors to Bitcoin demand, but notes that dividend obligations remain even if Bitcoin’s price falls.
Why it matters
Fidelity expects the preferred‑stock model to add buying pressure on Bitcoin by tapping the fixed‑income market, which could support price appreciation. However, the firm warns that higher market interest rates or a prolonged Bitcoin downturn could pressure preferred‑stock prices and dividend payouts.
Key facts
- 1Perpetual preferred stock offerings financed purchases of 135,979 BTC. crypto.news
- 2The 135,979 BTC represent more than 0.5% of Bitcoin’s maximum supply as of Oct. 5, 2026. crypto.news
- 3Preferred issuance financed more than 95,000 BTC between March and May 2026. crypto.news
- 4The March‑May issuances raised over $7 billion. crypto.news
- 5April 2026 saw a peak week in which nearly 30,000 BTC were purchased. tradingview.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.