Strategy and Strive, among others, purchased 136,000 bitcoins through preferred stock financing.

From 2025 to October 5th, companies such as Strategy and Strive purchased 135,979 Bitcoins through preferred stock financing, reaching a market size of $12 billion. James Butterfill, Head of Research at CoinShares, stated that Strategy repurchased $193 million of STRC and bought 267 Bitcoins, increasing its preferred stock repurchase authorization to $3 billion. Ryan Rasmussen, Head of Research at Bitwise, expects ETFs to remain a larger source of demand, with perpetual preferred stock covering different income-oriented investors. Butterfill believes that favorable preferred stock financing conditions support cryptocurrency purchases, while support may weaken when market sentiment deteriorates.