According to @adam3us, he rebutted a claim that the $19.5 billion raised in the first nine months of 2025 did not fund new Bitcoin purchases, asserting instead that 193,631 BTC were bought during that period. Source: Adam Back on X, Nov 24, 2025, https://twitter.com/adam3us/status/1992873575771238906 The post provides a specific total of 193,631 BTC purchased for that timeframe, directly contesting the debt-servicing narrative referenced in the quoted discussion. Source: Adam Back on X, Nov 24, 2025, https://twitter.com/adam3us/status/1992873575771238906