$2B Preferred Stock Sale Supercharged for Bitcoin Buying Spree—Wall Street Plays Catch-Up

Another traditional finance giant just pivoted harder into crypto than a DeFi degens. This time? A $2 billion preferred stock offering—all guns blazing toward Bitcoin accumulation.

Wall Street's latest love letter to digital gold

No vague "blockchain initiatives" here. The capital raise explicitly targets BTC purchases, doubling down while legacy investors still debate "store of value" merits. The move smells like institutional FOMO—with investment bankers finally reading the on-chain writing on the wall.

Preferred shares: The new crypto war chest

Forget dipping into cash reserves. This playbook leverages Wall Street's own weapon—preferred equity—against it. The $2B haul shows traditional capital markets becoming Bitcoin's involuntary liquidity providers. Irony tastes metallic.

One cynical footnote: Nothing unites bankers like chasing performance. After years of scoffing, suddenly everyone's a "long-term holder." Just don't check their wallets during corrections.