Fidelity, which manages $7.8 trillion in assets: perpetual preferred stock has become the latest demand catalyst for BTC, having driven purchases of over 135,000 BTC

Odaily reports: Bitcoin Treasuries posted on X that Fidelity, which manages $7.8 trillion in assets, stated that perpetual preferred stock issued by Bitcoin treasury companies is the latest demand catalyst for BTC. Over the past year or so, preferred stock has provided funding for the purchase of over 135,000 BTC, equivalent to 0.5% of Bitcoin's total supply; Fidelity also stated that BTC's increasing scarcity makes it a strong complement to preferred stock.