According to WuShuo, Ben Werkman, Chief Investment Officer of Bitcoin treasury company Strive, stated that the growth rate of Bitcoin holdings per share is a key indicator for measuring the efficiency of a treasury company's capital allocation, but it cannot be evaluated in isolation from financing costs and capital structure. When the company's stock price has a premium relative to the net asset value of Bitcoin, issuing new common stock to purchase BTC can increase the amount of Bitcoin held per share; stock buybacks can also improve this indicator, but may deplete cash reserves. Werkman warned that if funds raised through preferred stock financing are continuously used to buy back common stock, it may weaken the asset protection of preferred stock dividends and harm the interests of preferred stock investors. https://www.(wublock123.com)/news/strive-cio-bitcoin-holdings-growth-financing-costs-capital-structure-71628