[Strive CIO: Bitcoin Treasury Companies Should Balance Equity Issuance, Credit Products, and Stock Buybacks] Strive's Chief Investment Officer, Ben Werkman, stated in a post on the X platform that Bitcoin Treasury Companies (DATs) primarily use three financing tools: equity issuance, credit instruments such as preferred stock and bonds, and stock buybacks. These companies typically raise funds by issuing common stock and buying BTC when its share price is higher than the value of their Bitcoin holdings. To avoid diluting existing shareholders, they may also issue credit products such as preferred stock or bonds to finance BTC purchases. Werkman stated that when the share price is undervalued or there is excess cash, companies can increase per-share value through buybacks. Werkman said that if companies balance these three methods—equity issuance using a share price premium, leveraging through bonds and preferred stock, and conducting stock buybacks—long-term shareholder value can be enhanced.