Strive Chief Investment Officer Ben Werkman said Bitcoin treasury companies could enhance long-term shareholder value by balancing common-stock issuance, preferred shares and debt, and share buybacks, according to a November 10, 2026 report by PANews citing his post on X.
Issuing shares and using credit to acquire Bitcoin
Werkman said these companies typically raise funds by issuing common shares and buy BTC when their stock trades above the value of their Bitcoin holdings. They can also issue preferred shares or credit instruments such as bonds to fund Bitcoin purchases without diluting existing common shareholders.
Buybacks as a separate capital-allocation tool
When shares are undervalued or a company has excess cash, Werkman said buybacks can increase per-share value.
His argument was conditional: balancing share issuance at a premium, leverage through bonds and preferred shares, and stock repurchases could improve long-term shareholder value. The comments concern how Bitcoin treasury companies manage their capital, rather than a forecast for Bitcoin’s price.
Source: PANews original article, published November 10, 2026, at 08:05:04 (UTC+8).