Adam Back: Strategy has a very low leverage ratio; they simply transferred BTC to another custodian and did not sell it.

According to Odaily Planet Daily, Bitcoin pioneer and Blockstream co-founder Adam Back 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.