In the cryptocurrency industry, Strategy is a very peculiar company - abandoning its main business to become a full-fledged Bitcoin company. At present, the company holds approximately 506137 BTC, with a cumulative investment of approximately 33.7 billion US dollars and an average purchase cost of 66384 US dollars per BTC. There have been many interpretations of the strategy of purchasing Bitcoin through issuing convertible bonds. Convertible bonds are essentially debt instruments that require repayment of principal and interest at maturity, although some of the company's convertible bonds are zero interest bonds that only require repayment of principal. If the company lacks sufficient cash flow or Bitcoin value to cover its debt at maturity, it may face default risk. The approach of Strategy is a very clear high-risk, high-yield gameplay. Of course, there is an important core premise that BTC prices will rise in the long term. In this process, Strategy needs to address three issues: one ⃣ Flatten the high volatility of Bitcoin prices and avoid the threat of high price fluctuations to the balance sheet. The best way is to lobby large institutions, corporations, and sovereign governments to purchase Bitcoin to reduce BTC volatility, which is why founder Michael Saylor is working so hard to persuade large companies and institutions to buy Bitcoin. In the future, he will continue to spare no effort in doing this. It is only safe when everyone is on the same boat, with both glory and loss. two ⃣ Actively lobbying the government to relax or introduce favorable regulations or laws for the cryptocurrency industry. Fortunately, with Trump's four-year term ahead, based on the current situation, Trump holds a positive stance towards the cryptocurrency industry. For Michael Saylor, the next four years will be about building good relationships with the government and expanding his circle of allies. This is the core strategic objective. three ⃣ Finally, we still hope that the Federal Reserve will not suddenly tighten liquidity, but this is the most uncertain thing, and we can only hope that there will be no black swan events. Anyway, Strategy must be taken seriously in observing the price trend of BTC in the next few years.