Capital Structure
The mix of debt, preferred stock and common equity that funds a company.
Definition
A company's capital structure determines how it finances its assets: through debt (bonds, loans), preferred stock, or common equity. In the context of Bitcoin treasury companies, capital structure is especially relevant because it defines who has priority over the BTC assets in a liquidation. Preferred shareholders rank ahead of common shareholders, which gives them a different risk profile. Treasury companies with excessive debt can be forced to sell BTC if the price falls.
Related Terms
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