It's commonly thought that a lot of older browsers (including IE6) and some older versions of caches like Squid won't cache any file that has a querystring attached, regardless of the expires date.
The more robust alternative to querystring versioning is to put versioning information into the path, such as:
site/static/23212903/css/bundle.css
Or:
site/images/logo.r23212903.png
For more, here's a great article on setting cache headers correctly by Sergey Chernyshev.
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