Why Fidelity says preferred stock sales funded nearly 136K bitcoin purchases

Fidelity says sales of its preferred stock helped finance purchases of nearly 136,000 bitcoin, linking investor demand for the securities to its bitcoin accumulation. The figure reflects the scale of the buying, but the funding claim is Fidelity’s account rather than evidence that preferred-stock proceeds alone drove the purchases. The activity highlights how traditional-market financing can channel capital into bitcoin and potentially deepen institutional exposure.