Strategy recently invested $1.25 billion to acquire 13,627 Bitcoin at an average price of $91,519, bringing the total holdings to 687,000 BTC (accounting for 3.2% of Bitcoin's circulating supply), with a total investment of $51.8 billion and an average cost of $75,353. This increase continues its "Bitcoin-based" strategy, building a "financing-purchasing" cycle through issuing common and preferred shares to raise funds, strengthening the enterprise-level digital asset reserve model. Despite Bitcoin price fluctuations and the risk of MSCI index exclusion threatening financing capabilities, the company maintains liquidity through $1.44 billion in reserves and ongoing equity financing, driving growth in Bitcoin holdings per share and consolidating its position as the world's largest listed "central bank" of Bitcoin.