Bitcoin & Treasury Glossary

A clause allowing the issuer to redeem a preferred share at par value from a given date.

The mix of debt, preferred stock and common equity that funds a company.

Argentine Depositary Certificate: an instrument listed on BYMA that represents a fraction of a foreign stock or ETF. Traded in pesos; the IBIT and MSTR CEDEARs are the local route to Bitcoin exposure.

A bond that can be converted into common shares under certain conditions.

Unpaid preferred dividends that keep accruing and must be paid before any distribution to common stock.