The Bitcoin community launched boycott calls against JPMorgan over the weekend following news that crypto treasury companies may be excluded from major market indexes. Strategy, the largest corporate Bitcoin holder, faces potential removal from MSCI indices starting January 2026.
The enemy has a name: it's the Banking system.
Take a look at the chart of JPM since the great financial crisis. It's been STRAIGHT UP for the last 15 years.
JP Morgan has been consolidating its power as the head of the Banking Crime syndicate through both Obama terms, Trump… pic.twitter.com/YisF732oa5
— Fred Krueger (@dotkrueger) November 22, 2025
MSCI, an index company that sets criteria for market inclusion, plans to exclude treasury companies with 50% or more of their balance sheet in crypto. The proposed policy change would affect Strategy and similar companies that hold large amounts of digital assets.
JPMorgan analysts shared the MSCI news in a research note this week. They estimate Strategy could face up to $2.8 billion in outflows if removed from MSCI indices. If other index providers follow MSCI’s lead, total withdrawals could reach $8.8 billion.
Strategy stock (MSTR) fell below $200 on Wednesday after JPMorgan’s estimates were released. Shares continued dropping through the end of the week, reaching around $170 at Friday’s market close.
MicroStrategy Incorporated, MSTR
The stock had peaked above $450 in mid-July. Year-to-date, MSTR has declined 41%, and over the past year it has fallen about 57%.
Strategy entered the Nasdaq 100 in December 2024. This allowed the company to benefit from passive capital flows from funds holding the Nasdaq 100 index.
Real estate investor and Bitcoin advocate Grant Cardone said he pulled $20 million from Chase in response to JPMorgan’s actions. “I just pulled $20 million from Chase and suing them for credit card malfeasance,” Cardone stated.
I cancelled my JPM account and moved entire account to Wells. Also, don’t use chase credit card if you’re worried about fraud. More to come. pic.twitter.com/wi645YqdII
— Grant Cardone (@GrantCardone) November 23, 2025
Bitcoin advocate Max Keiser, who serves as a senior advisor to President Nayib Bukele, called for people to “crash JP Morgan and buy Strategy and BTC.” Pro-XRP lawyer John Deaton also joined the criticism of the banking giant.
Claims have circulated that JPMorgan is shorting MSTR stock. Critics also pointed to JPMorgan’s alleged financial ties to Jeffrey Epstein, which have faced Congressional scrutiny.
Strategy founder Michael Saylor responded to the proposed MSCI policy change on Friday. He said Strategy is not a fund, trust, or holding company.
“Funds and trusts passively hold assets. Holding companies sit on investments. We create, structure, issue, and operate,” Saylor explained. He described Strategy as a “Bitcoin-backed structured finance company.”
The exclusion from indexes could trigger automatic sell-offs from funds mandated to buy specific types of financial instruments. Asset managers that track these indexes would be required to sell shares of excluded companies.
Some community members warned that retail traders might rally around MSTR stock similar to the 2021 GameStop situation. If traders believe JPMorgan is betting against the stock, they may attempt to drive its price higher. JPMorgan has faced Congressional subpoenas regarding its oversight of Epstein’s accounts and financial activities.
The post Bitcoin Advocates Call for JPMorgan Boycott After Strategy Index Warning appeared first on CoinCentral.
