[Strive Chief Investment Officer: Bitcoin Treasury Companies Need to Balance Financing and Buybacks] According to a report by DeepFlow TechFlow on November 10th, Strive's Chief Investment Officer, Ben Werkman, stated that Bitcoin treasury companies should seek a balance between common stock issuance, credit financing, and stock buybacks, while also considering the interests of both common and preferred stock investors. Werkman indicated that when the market capitalization of common stock exceeds the fair value of Bitcoin on the balance sheet, issuing stock and using all proceeds to purchase BTC can increase the amount of Bitcoin held per share. Using excess cash to buy back shares can also improve this metric, but it depletes cash reserves. He believes that issuing credit products to purchase BTC can increase the amount of Bitcoin held per share without issuing new common stock, but it incurs dividend obligations and capital costs; continuously using preferred stock financing to buy back common stock may weaken the asset protection of dividends and affect credit quality.