News linked to both this project and an event.
Odaily reports: Analysts at StoneX and TD Cowen believe that Strategy's preferred stock financing structure has stabilized and liquidity has improved, creating conditions for the company to resume accumulating Bitcoin and increase its Bitcoin holdings per share. Both institutions maintain a Buy rating, with target prices of $435 and $260, respectively.As of the end of the third quarter, Strategy held $5.07 billion in U.S. dollar assets, including $4.83 billion in cash reserves, sufficient to cover approximately 3.2 to 3.4 years of preferred stock dividends and debt interest. Strategy also spent approximately $2 billion to repurchase STRC preferred shares, helping its price recover to near its $100 par value. However, because funds were prioritized for replenishing cash reserves and supporting preferred stock rather than accumulating Bitcoin, Strategy's Bitcoin holdings per share declined 3.7% during the year.Additionally, holders of STRC, STRF, STRK, and STRD preferred shares have approved daily accrual of dividends: STRC effective November 1, and the other three classes effective January 1 of next year. Management stated that the move is intended to reduce volatility, improve liquidity, and expand demand. TD Cowen believes that broader distribution channels and better liquidity could ultimately enhance Strategy's efficiency in issuing "digital credit" products.
Odaily reports: According to Bitfinex analysis, Strategy shareholders voted on October 28 to approve a proposal for daily dividend payments on STRC preferred stock, with preliminary results showing 99.3% of votes in favor. STRC is expected to shift from semi-monthly dividend payments to daily dividend payments starting November 1, with the first cash dividend payment arriving on November 2; Strategy's other three preferred stocks, STRF, STRK, and STRD, are expected to follow suit in January 2027.Strategy's move aims to reduce price volatility around ex-dividend dates. Company CEO Phong Le stated that previously, when STRC paid dividends monthly, prices fell by an average of about 49 basis points around the ex-dividend date, which dropped to about 36 basis points after switching to semi-monthly payments. The company expects that daily dividend payments will further disperse selling pressure and improve price stability.This model was not pioneered by Strategy. Bitcoin treasury company Strive converted its SATA preferred stock to daily dividend payments in June of this year and launched a subordinated preferred stock, SATS, with a fixed annual dividend rate of 15%. In October, Strive issued 7 million shares of SATS at $90 per share, raising approximately $630 million, and used about $511 million of that to purchase 6,182 BTC.
Strategy Executive Chairman Michael Saylor stated on the third-quarter earnings call that the Bitcoin treasury company does not require additional common equity financing or further bitcoin appreciation to create up to $30 billion in digital credit using its existing balance sheet. Saylor said the company could generate $10 billion, $20 billion, or even $30 billion in digital credit.
Odaily Report: Bitcoin treasury company Strategy is considering issuing preferred stock to finance additional Bitcoin purchases. Executive Chairman Michael Saylor said the company can create up to $30 billion in digital credit based on its existing balance sheet, without issuing additional common stock or requiring Bitcoin's price to continue rising.CEO Phong Le said that issuing digital credit will be Strategy's primary method for acquiring more Bitcoin; if the company raises $1 billion to $2 billion through STRC in a month, part of the funds could be allocated to USD reserves, with the remainder used to purchase Bitcoin.Strategy reported third-quarter net income of $19.53 billion, primarily driven by a $20.91 billion increase in the value of digital assets. As of October 25, the company held 848,517 Bitcoin, up 26% year-to-date. The $30 billion figure represents potential financing capacity, not a publicly announced fundraising target. (Cointelegraph)
Michael Saylor posted on X that Strategy has announced its Q3 2026 results: operating income reached $21 billion, the highest for a single quarter in the company's history; year-to-date financing totaled $21 billion; STRC has returned to normal; and it holds 848,517 bitcoins, up 26% since the beginning of the year.
Odaily Report: Bitget, in collaboration with Reality and Keyring, has published a research report exploring the synergies between tokenized stocks, perpetual contracts, and decentralized lending, while assessing the potential returns and risks of related strategies through simulated calculations. The report notes that the application of tokenized stocks is expanding from traditional stock trading to collateralized lending, asset management, and systematic investment strategies.The research is based on Reality's rToken, combined with stock perpetual contract hedging and onchain lending mechanisms, to explore stock basis yield strategies. Historical simulation data shows that from December 15, 2025, to October 19, 2026, the strategy index achieved annualized net returns of approximately 7% and 4% in-sample and out-of-sample, respectively, with a gross funding rate premium of approximately 11%–14%. The report also notes that financing costs, trade execution fees, market liquidity, and risk management are key factors affecting the strategy's actual returns.It is understood that Bitget and Keyring plan to jointly develop a stock basis index and build an onchain lending market based on Reality's rToken. Reality will provide exposure to tokenized stock assets, while Keyring will be responsible for developing the index methodology and building the related lending market. The index aims to capture funding rate and basis yield opportunities by combining rToken holdings with hedged positions in corresponding stock perpetual contracts, providing a new strategic pathway for the application of tokenized stocks in onchain financial scenarios.
Since 2025, as of October 5, Bitcoin treasury companies such as Strategy and Strive have financed the purchase of 135,979 BTC through preferred stock offerings, accounting for more than 0.5% of Bitcoin's maximum supply; the related preferred stock market is approximately $12 billion. Perpetual preferred stock has no fixed maturity date, which can alleviate refinancing pressure and attract yield-oriented investors who are unwilling to hold Bitcoin directly; however, expanding issuance also increases dividend expenses. Sustained financing for Bitcoin purchases depends on preferred stock trading at or near par value. If prices fall below par, the appeal of new issuance may decline, and companies may turn to buybacks. James Butterfill, Head of Research at CoinShares, said Strategy's latest weekly report shows the company spent $193 million to repurchase STRC, bought 267 BTC during the same period, and raised its preferred stock repurchase authorization to $3 billion. Buybacks can reduce future dividend costs but also compete with Bitcoin purchases for capital. Ryan Rasmussen, Head of Research at Bitwise, expects ETFs will remain a larger source of Bitcoin demand over the long term, while perpetual preferred stock covers a different group of yield-oriented investors and provides another source of demand support for the market. Butterfill believes preferred stock may amplify market cycles: when financing conditions are favorable, it supports Bitcoin purchases; when market sentiment weakens, that support may diminish.
Odaily Report: Fidelity Digital Assets research analyst Zack Wainwright noted in an analysis published on October 20 that preferred stock financing oriented toward Bitcoin could attract capital from the approximately $15 trillion global fixed income market. Fidelity estimates that the size of this type of preferred stock is approximately $12 billion.As of October 5, preferred stock financing has supported the purchase of 135,979 BTC, of which more than 95,000 were purchased between March and May. Fidelity estimates that nearly 96% of Bitcoin's maximum supply has been issued, and the next halving is expected in less than two years.Bitcoin treasury company Strive Inc. completed a 15% Series A Perpetual SATS Preferred Stock offering on October 20, selling 7 million shares at $90 per share for total proceeds of $630 million; the dividend rate is calculated on a $100 par value and is 15% annualized.Bitcoin treasury company Strategy Inc. disclosed that it holds 848,517 BTC and purchased 267 BTC the previous week for $22.1 million, using proceeds from common stock issuance and cash. Fidelity noted that the performance of related instruments is affected by both Bitcoin and the issuing company. (Bitcoin.com News)
Odaily report: As the financing models of Bitcoin treasury companies Strategy and Strive come under pressure, related companies are attracting investors by offering higher-yield preferred stock to sustain their crypto asset accumulation strategies. Strategy's STRC preferred stock, which carries a 12% annualized dividend rate, has not been issued again since its price decline in June. The company is now seeking to promote daily dividend payments and continues to raise funds by issuing additional common stock to buy Bitcoin, resulting in equity dilution for existing shareholders.Bitcoin treasury company Strive disclosed that it has completed a $630 million preferred stock offering, with the fundraising scale about 25% higher than initially planned. The preferred stock carries a nominal annualized yield of 15% and was issued at a discount, with an effective yield of nearly 17%, far exceeding the yield on one-year high-grade U.S. Treasury bonds and approaching the returns on distressed debt. (Bloomberg)
Bitcoin Treasuries posted on X platform stating that Strategy's Michael Saylor said Strategy could become a company valued at $1 trillion with digital credit as its core business. Saylor stated that Strategy's future depends on converting Bitcoin capital into credit; if the credit business performs well, the company's equity performance will outperform Bitcoin. Digital credit is the product, and equity is the byproduct; if the credit business operates well, the company should trade at a premium.
According to Cointelegraph, Bitwise Head of Research Ryan Rasmussen stated that overall bitcoin purchasing by treasury companies slowed in Q3 2026. Strategy net acquired 1,666 BTC during the quarter, down from 83,901 BTC in Q2, while other listed companies net acquired 5,617 BTC, down from 45,725 BTC in the previous quarter. He expects corporate bitcoin buying to accelerate again as early as this year. Bitfinex Head of Derivatives Jag Kooner noted that if the premium of treasury companies' stock prices over their bitcoin holdings recovers, it may reignite equity-funded bitcoin purchases, but “a return to the indiscriminate funding frenzy of last year is unlikely,” with capital flowing preferentially to mature companies that possess scale, liquidity, and an established track record.
Odaily Sees: Bitcoin News posted on X that Strive, after weeks of sustained buying, reportedly holds 35,600 BTC and has drawn attention from Wall Street. TD Cowen raised its price target on Strive's stock from $44 to $56 on October 16. Strive priced an offering of 7 million preferred shares at $90 per share, raising approximately $630 million in gross proceeds (before fees); this approach avoids immediate dilution of common stock but requires dividend payments. Strive's stock fell 6.1% on Friday, in sync with Strategy.
Strategy stated its "Bitcoin Banking Adoption Index" rose to 34% in the third quarter of 2026, indicating that major global banks' adoption of Bitcoin and digital asset-related services continues to increase, though the overall level remains at an early stage. Among them, Fidelity ranked first at 77%, JPMorgan Chase at 47%, and BNY at 46%.Strategy noted that the index increase this quarter was mainly driven by several developments, including expanded access to Bitcoin ETF/ETP products, growth in institutional custody services, and the development of lending businesses using BTC as collateral. Meanwhile, advancements in stablecoins and asset tokenization also contributed to the index increase. As traditional financial institutions gradually explore digital asset infrastructure, Bitcoin-related services are extending from investment products to custody, financing, and financial application scenarios.
Odaily reports: Bitcoin News posted on X that Strive's SATA preferred stock raised an estimated $55 million during the week of October 5, enough at last week's prices to purchase approximately 638 bitcoins. As of October 2, the company held 29,462 BTC. From September 28 to October 4, Strategy did not sell any STRC shares. An 8-K filing submitted on Monday will reveal whether this SATA cash was actually converted into Bitcoin.
According to Cointelegraph, Saifedean Ammous, author of The Bitcoin Standard, stated that other treasury companies focused on buying Bitcoin as their core business may struggle to compete with Strategy, noting there is currently no sufficient reason to choose alternative Bitcoin treasury firms over Strategy. Ammous pointed out that Strategy's larger Bitcoin holdings enable it to secure financing at a lower cost, and the company maintains approximately $5.02 billion in cash reserves, which can be used to pay preferred stock dividends and interest on its debt, providing a financial buffer even if Bitcoin experiences a sharper drawdown. However, he also emphasized that investing in Strategy still entails risks, and personally favors holding Bitcoin directly.
Michael Saylor posted on X platform stating that Strategy and Strive conduct business based on the shared capital foundation of Bitcoin. Although the two parties differ in securities products, decisions, and target audiences, they can compete while jointly expanding long-term opportunities. He believes that more well-managed Bitcoin-backed digital credit issuers can help enhance investor awareness, liquidity, and institutional research coverage for this category, and may improve the financing environment for eligible issuers. Saylor also mentioned that Strive disclosed the purchase of $50 million worth of STRC on March 11, 2026.
Michael Saylor stated that as AI changes how businesses are built, digital tokens can help 10 million new companies raise capital and reduce fundraising costs and delays. He advocates simplifying issuance rules while preserving disclosure and anti-fraud protections.Michael Saylor is the Executive Chairman of Bitcoin treasury company Strategy Inc. He proposed that companies could issue tokens with rules tailored to the type of issuance, and set disclosure requirements matched to risk, thereby reducing legal costs while preserving ownership protections and fraud accountability.The U.S. Securities and Exchange Commission (SEC) has separately proposed cryptocurrency issuance exemptions, one of which would allow eligible issuers to raise up to $5 million within four years, and another that would allow up to $75 million every 12 months; both remain proposals and come with disclosure and anti-fraud requirements. (Bitcoin.com News)
Odaily News — Strategy is using large-scale buybacks to push the price of its perpetual preferred stock STRC back toward its $100 par value, in a bid to restore its Bitcoin financing capacity. Between July 20 and September 13, Strategy repurchased a total of 9.96 million STRC shares for approximately $950 million, accounting for about 18% of the trading volume during the same period. Of that, roughly $765 million can be traced to sales of MSTR common stock, while another approximately $161 million came from Bitcoin reductions.STRC had previously fallen to around $70, and has recently rebounded to as high as about $99. Analysts believe that only when STRC's price approaches or climbs above its $100 par value can Strategy effectively reissue the security and use the proceeds to purchase Bitcoin. However, after Strategy pulls back and reduces its buybacks, whether STRC can continue to hold near par value remains uncertain. (Bloomberg)
Odaily News: The UK House of Lords passed an amendment by a vote of 194 to 138, requiring the Treasury to formulate, publish, and consult on a national digital asset strategy within 12 months after the Financial Services and Markets Act takes effect.The strategy must cover crypto assets, qualifying stablecoins, central bank digital currencies, tokenized securities, and other digital financial assets, and review the availability of banking, payment, and settlement services, as well as the risks to competition and innovation posed by the withdrawal of related services.The bill still needs to undergo a third reading in the House of Lords on September 15, and will then be submitted to the House of Commons for consideration. The UK Financial Conduct Authority (FCA) completed the formulation of rules and guidance for the new crypto asset regulatory regime on June 30. The authorization application channel is planned to open on September 30, 2026, and the regime will take effect on October 25, 2027. (Bitcoin.com News)
Odaily News: Amid pressure from AI giants calling for a slowdown, sticky inflation, and the looming threat of rate hikes, US stocks plunged across the board on Monday, with the Philadelphia Semiconductor Index plummeting nearly 6%. Yet JPMorgan reaffirmed its bullish stance against the tide, warning that blind pessimism can easily lead to missing out on gains.Mislav Matejka, JPMorgan's Head of Global and European Equity Strategy, also once again issued a warning to aggressively bearish investors: while surging oil prices do suppress valuations, blindly betting against US stocks is extremely dangerous before the overall earnings expansion of American companies has been disproven. Once US President Trump subsequently attempts to cool tensions in the Middle East through diplomacy, or if third-quarter earnings exceed expectations, the forces of excessive shorting may face a fierce backlash from returning capital.On this basis, JPMorgan as early as August had already raised its year-end target for the S&P 500 Index from 7,800 points to 8,000 points against the tide, and expects earnings per share of its constituent stocks to surge 29% year-over-year to $350.