Perpetual Bitcoin (PB) is an autonomous, immutable smart‑contract system on PulseChain that replaces traditional time‑based locking with a price‑based value‑lock mechanism. Each purchase is split into liquid PB and locked PBc, with PBc unlocking only when predefined price targets are reached. This removes calendar cliffs and discretionary release schedules, ensuring that unlocks occur solely through objective market conditions. The protocol is fully on‑chain, ownerless, and deployed without admin keys, governance, or upgrade paths. All purchases route through the Vault to enforce the rules consistently, while sells remain free on the AMM. The system is a finished product whose behavior is permanently fixed in code.