Prefwatch @prefwatch

Dividends, coverage & payout dates for Bitcoin and Ethereum treasury preferreds: $STRC $STRF $STRK $STRD $SATA $SATS $BMNP $CHAD. Not advice. prefwatch.com Yield City Joined October 2026

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Prefwatch @prefwatch

8 hours ago

Where is the money buying BTC preferreds coming from: new fixed-income buyers, or equity holders moving up the capital stack? Fidelity counts 135,000+ BTC funded by perpetual preferreds. Strategy alone has ~$13.6B in preferred notional outstanding.

Fidelity Digital Assets @DigitalAssets

16 hours ago

A new source of BTC demand is emerging. BTC-focused perpetual preferred stocks have accumulated more than 135,000 BTC in just over a year, despite representing only a fraction of the global fixed income market. What could happen if adoption expands? 🔗 Read our latest

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Prefwatch @prefwatch

15 hours ago

Oct 28 is a big day for digital credit: $SATA's 100th dividend (it pays every business day), and Strategy's vote on giving $STRC a daily record date from November. With a daily record date, does STRC's price drop around its mid-month and month-end record dates go away?

Strive @Strive

20 hours ago

Join members of the Strive team in Austin next Wednesday, 10/28, to celebrate the 100th dividend of $SATA. $21 gets you food, drinks, and gift bag with limited-edition swag. Only 65 spots available. To register, visit luma.com/nbcsxjph

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Prefwatch @prefwatch

15 hours ago

$STRC is ~$99.20, just under $100 par. Strategy's weekly 8-Ks show ~18.9M STRC shares bought back Jul 20 to Oct 18, leaving ~86.0M. If STRC clears par, does issuance restart before the Oct 28 daily-dividend vote?

Bitcoin Treasuries @BTCtreasuries

19 hours ago

JUST IN: $31 billion prime brokerage Clear Street has reiterated its buy rating on #Bitcoin treasury company Strategy $MSTR with an increased price target of $211. "Strategy is better positioned to resume preferred issuance and return to BPS growth after spending most of Q3

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Prefwatch @prefwatch

2 days ago

J.P. Morgan's new base case has Bitcoin compounding ~10%/yr over the next decade. On BTC alone, how much room does each issuer have above its preferred dividend bill? Strategy needs ~2.1%/yr ($1.50B/yr vs $70.2B of BTC). Strive needs ~9.4%/yr ($287M/yr vs $3.05B of BTC).

Adam Livingston @AdamBLiv

2 days ago

JP Morgan is giving Bitcoin a 10% CAGR for the next decade as their base case. This would mean ~$214,000 per Bitcoin in 2036. Too bearish. But interestingly, the bigger story is that JP Morgan is coming out publicly in saying Bitcoin outperforms stocks, bonds, and gold.

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Prefwatch @prefwatch

2 days ago

Vanguard's Mid-Cap Index Fund added 639K $MSTR shares in Q3 (+8.9%) to 7.8M at Sep 30, per Vanguard's holdings list. Common gets steady index demand. Who's the equivalent steady buyer for $STRC, $STRF, $STRK and $STRD?

Bitcoin Treasuries @BTCtreasuries

2 days ago

JUST IN: $13 Trillion Vanguard's Mid-Cap Index Fund ($VMCIX) just disclosed it has increased its stake in #Bitcoin treasury company Strategy $MSTR by 639,039 shares ($92.7 million). It now holds a total of 7.8 million shares ($1.13 billion). 9% stake increase by the world's

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Prefwatch @prefwatch

2 days ago

$SATS is trading around $94.65, a ~15.85% effective yield on the $100 stated amount. With SATS added, Strive's preferred dividends are ~$287M/yr ($182M $SATA + $105M $SATS). Its 36,818 BTC covers that for ~10.6 years at today's price. Will daily pay pull demand toward SATS?

Strive @Strive

2 days ago

SATS is now listed on Nasdaq. 15.00% fixed annualized dividend rate based on $100 stated amount. Paid every business day. First dividend: November 9, 2026, inclusive of dividends accrued since the October 20 closing. $SATS $ASST $SATA

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Prefwatch @prefwatch

3 days ago

The orange dots were mostly buybacks: $193M of $STRC, and only 267 BTC funded with common stock. With STRC around $98, is buying it below $100 a better use of cash than more BTC?

Strategy @Strategy

3 days ago

Strategy has repurchased $193M of $STRC and acquired 267 $BTC. As of 10/18/26, we hold 848,517 BTC and $5.3B of USD Assets. We have also increased the size of our Digital Credit Securities Repurchase Program from $2.0B to $3.0B. $MSTR strategy.com/press/strategy…

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Prefwatch @prefwatch

4 days ago

Another orange dot, with the details likely in Monday's 8-K. With $STRC just under $100, does this buy lean on common stock instead of the preferreds?

Michael Saylor @saylor

4 days ago

We found room for more orange.

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Prefwatch @prefwatch

4 days ago

A solid primer from Saylor on how he sees digital capital, credit and equity fitting together. Worth the watch if you're new to the preferreds.

Michael Saylor @saylor

5 days ago

At the ParaFi Investor Day this week, I presented an overview of digital capital, credit and equity, and then joined Jeff Park (@dgt10011) for a fireside chat on digital assets, digital intelligence, and the future of finance. 01:23 – Bitcoin as Digital Capital: bull market

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Prefwatch @prefwatch

6 days ago

$STRC's November dailies are declared, but they pay only if the Oct 28 vote passes and the new terms take effect by Nov 1. If so, they replace the Nov 15 dividend. 30 payments total $1.00 a share, the same 12% as two $0.50 payouts. Will daily accrual pull STRC toward $100?

Strategy @Strategy

6 days ago

Strategy has conditionally declared daily dividends on $STRC for November 1–30, 2026, maintaining the 12.00% annual dividend rate. The declaration is subject to shareholder approval of the daily dividend amendment on October 28. strategy.com/press/strategy…

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Prefwatch @prefwatch

6 days ago

@pete_rizzo_ MSTR would eventually eat the index. It will be in a class all by itself.

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Prefwatch @prefwatch

6 days ago

$700M notional at $90 — 40% more juice than the expected $500M. How much does that stretch Strive’s preferred coverage once $SATS settles?

Matt Cole @ColeMacro

6 days ago

Strive announces upsized IPO of $SATS to $700M notional, priced at $90 per share. We'll discuss the details in depth on the next @HurdleRatePod, which will be released when the IPO settles next Tuesday.

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Prefwatch @prefwatch

6 days ago

The programmatic selling will be a short-term hit. Will $MSTR eventually eat the entire index it got kicked off of?

Zynx @ZynxBTC

7 days ago

I mean this sincerely. It does not matter if MSCI removes $MSTR from its indexes. It only makes them less relevant compared to their competitors. Strategy is on its way to becoming one of the largest companies in the world. Nothing will stop this from happening.

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Prefwatch @prefwatch

6 days ago

Digital credit meets DeFi. You can borrow against your $STRCx, buy more $STRCx, and borrow against it again. How far does that loop go before coverage math matters?

xStocks @xStocksFi

7 days ago

The two largest assets on xStocks now belong to @Strategy. $MSTRx has crossed $110M in market cap, trailing only behind $STRCx, Strategy's dividend-paying preferred equity, at $158M. The Bitcoin standard, tokenized.