Bitcoin Community Criticizes JP Morgan
The Bitcoin community has intensified its criticism of JP Morgan following the announcement from MSCI, a prominent index provider, regarding potential changes to its inclusion policies that may exclude cryptocurrency treasury companies starting in January 2026.
Backlash and Boycott Calls
This backlash escalated over the weekend as prominent figures rallied for a boycott against the financial giant. One influential voice, real estate mogul and Bitcoin supporter Grant Cardone, disclosed on social media that he has withdrawn $20 million from Chase, stating:
“I’m suing them for credit card malfeasance.”
In a similar vein, Bitcoin advocate Max Keiser has urged followers to actively divest from JP Morgan and invest in crypto-focused entities like Strategy.
Implications of MSCI’s Proposed Changes
The implications of MSCI’s proposed changes could be significant, potentially triggering automatic sell-offs of shares in treasury companies categorized under the new stipulations, which could have a detrimental effect on the broader cryptocurrency market.
Strategy’s founder, Michael Saylor, has expressed his views on MSCI’s announcement, clarifying that Strategy operates uniquely compared to traditional investment vehicles:
“We create, structure, issue, and operate, rather than passively hold assets like funds or trusts.”
Strategy, which was included in the Nasdaq 100 index in December 2024, benefits from the capital influx associated with being part of this major index. However, the MSCI’s criteria could force treasury companies with substantial crypto holdings to either divest or risk losing access to important market resources.
Market Concerns
Analysts warn that these potential sell-offs from treasury companies could lead to a downturn in digital asset valuations. As the situation develops, the call for a boycott showcases a growing rift between traditional financial institutions and the evolving cryptocurrency landscape.
