The backlash against financial services company JPMorgan from the Bitcoin (BTC) community and supporters of BTC treasury firm Strategy continued to grow on Sunday, with calls to “boycott” JPMorgan growing louder.
Anger in the Bitcoin community grew following news that MSCI (formerly Morgan Stanley Capital International), the index company that sets index inclusion criteria, is likely to remove crypto treasury companies from its index in January 2026.
JPMorgan shared the MSCI news in a research note. “I just withdrew $20 million from Chase and filed a lawsuit for credit card fraud,” real estate investor and Bitcoin supporter Grant Cardone said in response to calls to boycott financial services giant Chase.
“Buy JP Morgan and buy Strategy and BTC,” Bitcoin advocate Max Kaiser said as the online boycott movement gained momentum.
sauce: fred kruger
The removal of crypto treasury companies from stock indexes could trigger automatic sales of their own shares by funds and asset managers required to purchase certain types of financial instruments, which could have a negative impact on the crypto market.
Related: Saylor dismisses suggestions that Wall Street ‘damaged’ Bitcoin in recent crash
Strategy founder Michael Saylor breaks his silence and responds to MSCI
In December 2024, the strategy was included in the Nasdaq 100, a technology-focused stock exchange’s stock index of the top 100 companies by market capitalization.
This allowed Strategy to benefit from passive capital flows from Nasdaq 100 funds and investors.
“Strategy is not a fund, nor is it a trust, nor is it a holding company,” Strategy founder Michael Saylor said Friday in response to MSCI’s proposed policy change.
“Funds and trusts passively hold assets. Holding companies continue to invest. We create, structure, issue and operate,” Saylor said, adding that Strategy is a “structured finance company backed by Bitcoin.”
sauce: michael saylor
Proposed changes to MSCI’s listing criteria would mean financial companies that hold more than 50% of their balance sheets in cryptocurrencies would lose their index status.
These companies will be faced with one of two choices. One option is to reduce your cryptocurrency holdings below the index threshold, or lose the passive capital flow from the market index.
Digital asset prices may fall due to sudden sales of crypto companies affected by MSCI proposed changes, According to analysts.
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