PANews reported on November 16 that Adam Back, a Bitcoin pioneer and co-founder of Blockstream, stated in an article on the X platform that Strategy, a Bitcoin treasury company, has been consistently buying Bitcoin. Switching wallets previously only involved transferring Bitcoin to another custodian and did not involve selling it. Strategy's leverage ratio is actually very low; it currently holds $64 billion worth of Bitcoin with only $8 billion in liabilities, resulting in a leverage ratio of approximately 13%. Furthermore, its debt is all long-term and does not require immediate repayment.