Digital Asset Firms Shift to Debt and Bitcoin-Backed Loans Amid Equity Premium Decline

Digital-asset treasury firms are increasingly turning to debt, preferred shares, and Bitcoin-backed loans as equity premiums decrease. According to NS3.AI, Strategy's STRC is offering an 11.5% annual yield, which is reset monthly. This approach aims to mitigate common-share dilution but introduces additional leverage and duration risk to corporate structures already linked to Bitcoin.