分析师：BTC正从储备资产演变为支撑Strategy资本结构的核心流动性来源

Odaily Planet Daily News CryptoQuant analyst Axel Adler stated that Bitcoin remains a core reserve asset, but on a functional level, BTC has transformed into a significant source of liquidity supporting the complex capital structure of Strategy ($MSTR).

Axel Adler pointed out that as Strategy continues to use Bitcoin-related assets for financing and capital management, Bitcoin's role is evolving from a mere store of value into a key liquidity infrastructure within the company's capital operation framework.