Strategy and Strive Face the Dividend Bill Behind Their Bitcoin Buying

By Isaac • October 24, 2026 3:09 pm •

Strategy and Strive have turned preferred stock into a powerful Bitcoin-buying machine. The catch is that every new share creates another cash obligation that does not disappear when Bitcoin has a bad month.

That tension is becoming large enough to matter for the Bitcoin market itself.

CoinDesk reported that preferred-stock offerings have financed nearly 136,000 Bitcoin purchases since the products began appearing in 2025. Fidelity Digital Assets calculated 135,979 BTC through October 5, more than half of one percent of Bitcoin’s fixed maximum supply.

The financing model reaches investors who want income but may not want to own Bitcoin or a spot Bitcoin ETF. Companies sell perpetual preferred shares, promise recurring dividends, and use the proceeds