“Perpetual preferreds have brought bitcoin to income investors, a group that ETFs never reached,” said Mark Palmer, a senior equity research analyst at StoneX. Ryan Rasmussen, the head of research at Bitwise, also sees the products attracting buyers who might avoid bitcoin exchange-traded funds, though he expects the ETFs to remain the bigger demand channel. […]
Leading bitcoin treasury company Strategy (MSTR) has filed a proxy that, if approved, would allow for semi-monthly dividends on its STRC “Stretch” series of preferred stock. The move would have no effect on STRC’s annual dividend obligations or dividend rate (currently 11.5%), noted Executive Chairman Michael Saylor. Instead, he said, “[the] proposed changes are intended […]