According to online reports, Jeff Park, head of alpha strategy at Bitwise Asset Management, believes that the trend of Strategy (MSTR) stocks is more like a "altcoin" accessible to traditional financial (TradFi) investors, rather than a direct substitute for Bitcoin. He pointed out that the volatility of Strategy stocks is different from Bitcoin, and the returns on some trading days are even much higher than Bitcoin. He believes that this makes Strategy shares behave more like altcoins in the crypto market, providing traditional financial investors with an indirect channel for cryptocurrency investment. In addition, since some retail investors cannot buy spot Bitcoin ETFs, but can buy Strategy shares, it remains attractive in the market. Strategy shares have recently retreated from previous sharp gains, but have still risen 75% over the past year. Because the company holds a large amount of Bitcoin, many traders have long regarded it as an alternative trading tool for Bitcoin. Strategy's share price has risen 2,500% over the past five years, compared with Bitcoin's gain of approximately 1,500% over the same period.