Blockstream co-founder Adam Back has clarified the status of Bitcoin custodian Strategy's holdings, emphasizing that recent wallet activity was a transfer to another custodian rather than a sell-off. Strategy currently holds $64 billion in Bitcoin, with $8 billion in liabilities, resulting in a leverage ratio of approximately 13%. Back highlighted that all of Strategy's debt is long-term, with no immediate repayment obligations, underscoring the firm's stable financial position.