Synopsis: Strategy and Bitcoin supporters have called for a boycott of JP Morgan after the bank shared MSCI’s plan to exclude crypto treasury firms like Strategy from its indexes in January 2026, risking forced sell-offs and liquidity loss.
The Bitcoin community, led by supporters of BTC treasury company Strategy, has called for a boycott of JP Morgan. The surge in anger follows news that major market index provider MSCI plans to exclude crypto treasury firms from its indexes starting January 2026. This decision threatens the inclusion of companies like Strategy, stirring strong reactions among crypto advocates.
Cryptocurrency Community Outraged
The backlash against JP Morgan intensified after the bank shared MSCI’s proposal in a research note. This announcement alarmed many, as exclusion from key indexes such as the MSCI USA Index could mean automatic sell-offs of shares held by funds tracking these indices.
Supporters warn this could damage crypto markets by reducing liquidity for crypto treasury companies. Real estate investor and Bitcoin advocate Grant Cardone declared he pulled $20 million from Chase and intends to sue the bank for credit card issues. Max Keiser, a vocal Bitcoin supporter, urged followers to “Crash JP Morgan and buy Strategy and BTC,” fueling the boycott movement online.
Strategy’s Founder Responds
Michael Saylor, Strategy’s founder, broke his silence, clarifying that Strategy is not a fund or trust but a “Bitcoin-backed structured finance company.” He emphasized that the company creates and operates, rather than passively holding assets like funds or trusts.
The proposed MSCI rule would force any treasury company holding more than 50% of its portfolio in crypto to lose its index status. This could force companies to either reduce their crypto holdings or lose passive capital flows from index funds, risking sharp sell-offs and price drops for digital assets.
Broader Market Impact
(Micro) Strategy currently holds over 649,000 BTC, making up almost all its market value. The company’s inclusion in the Nasdaq 100 in December 2024 greatly boosted its stock due to passive investments linked to the index. The MSCI exclusion threatens this position, possibly triggering billions in forced sales and pushing prices down further.
While the boycott movement highlights frustrations with large financial institutions perceived as hostile to crypto, it also reflects deeper conflicts between traditional finance and Bitcoin’s decentralized ethos. For investors, the coming MSCI decision in January 2026 will be pivotal.
The current situation is a reminder to weigh risks of relying on traditional institutions for digital asset exposure. It’s clear that crypto supporters still see Bitcoin as “digital gold” and remain committed to defending its place. Meanwhile, JP Morgan risks alienating a growing segment of younger clients who hold crypto, even as the bank profits from crypto-related services.
In conclusion, this unfolding clash between crypto advocates and JP Morgan shows tensions shaking financial markets today. As Strategy fights to maintain its index inclusion, and boycotts mount, all eyes turn to MSCI’s final verdict. Whatever happens, Michael Saylor’s firm conviction remains: “Bitcoin is forever.”
Written By Fazal Ul Vahab C H
