Bitcoin Updates: Supporters of Bitcoin Challenge JPMorgan to Stop MSCI’s Plan for Exclusion
- Bitcoin advocates and MicroStrategy supporters boycott JPMorgan over MSCI's plan to exclude crypto firms from major indices starting 2026. - Prominent figures like Grant Cardone withdraw funds/lawsuit JPMorgan, warning the rule could trigger $11.6B losses for MicroStrategy via index-linked sell-offs. - MSCI's proposal risks destabilizing crypto markets by forcing companies to reduce holdings, with Bitcoin down 30% from October peaks and MicroStrategy's valuation premium collapsing. - The debate highlight
The
The boycott gained traction after influential voices in the Bitcoin space called for collective action. Real estate mogul and Bitcoin advocate Grant Cardone stated he had pulled $20 million from JPMorgan Chase and initiated legal action over credit card policies, while commentator Max Keiser encouraged followers to "bring down JPMorgan and invest in
Michael Saylor, the founder of MicroStrategy, has stood by the company’s business model, stressing that it operates as a "Bitcoin-backed structured finance company" rather than a passive investment vehicle. "Funds and trusts simply hold assets. Holding companies retain investments. We actively create, structure, issue, and manage," Saylor said in a public statement
The planned rule adjustment could have far-reaching effects on the crypto sector. Experts caution that forced reductions in crypto holdings by impacted companies may worsen price drops, especially since Bitcoin has already decreased by over 30% from its October high. The proposal also brings up questions about how digital asset treasury firms should be classified, as MSCI is considering whether these organizations should be treated like investment funds, which are not eligible for index inclusion
With MSCI’s decision deadline set for January 15, 2026, the ongoing debate highlights the increasing friction between established financial institutions and the crypto industry. While Saylor remains resolute, JPMorgan analysts warn that being removed from the index would represent a "negative" signal for MicroStrategy’s ability to raise capital and maintain trading liquidity
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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