The Bitcoin community has erupted in protest against JP Morgan following revelations of MSCI”s plans to remove crypto treasury firms from its financial indices. This outcry, which began on November 23, has led to calls for a boycott of the American multinational investment bank.
MSCI, known for providing critical financial market indices, data, and analytics, is one of the most significant players in driving institutional investments globally. Its decision to exclude certain crypto treasury firms could have severe repercussions for the market, as inclusion in MSCI indices typically attracts investments from mutual funds, exchange-traded funds (ETFs), and large pension funds. Conversely, exclusion could spark automatic sell-offs, diminishing the liquidity of the affected companies.
The proposed changes are expected to take effect in January 2026, a timeline that has provoked significant backlash from Bitcoin supporters. Reports indicate that JP Morgan had previously disclosed this information in a research note, intensifying the negative sentiment towards the bank.
In a notable reaction, real estate investor and Bitcoin proponent Grant Cardone revealed that he withdrew $20 million from JP Morgan Chase & Co., citing issues with the firm”s credit card services. Cardone”s comments highlight the growing tensions surrounding the boycott, with Bitcoin advocates rallying to support a movement against the bank.
Max Keiser, another prominent Bitcoin supporter, has encouraged Cardone to take action against JP Morgan and to consider investing his funds in Strategy, a Bitcoin treasury firm. If MSCI proceeds with its plan to delist crypto treasury firms, asset managers may be forced to sell shares, which could have broader implications for the cryptocurrency market.
It”s important to note that Strategy was added to the Nasdaq 100 in December 2024, allowing it to benefit from passive capital inflows from investors and funds linked to that index. Michael Saylor, the executive chairman of Strategy, has defended the company, clarifying that it operates as a Bitcoin-backed structured finance entity rather than a traditional fund or holding company.
The MSCI”s proposed policy change stipulates that any treasury firm holding over 50% of its balance sheet in cryptocurrency would lose its index status. Affected companies would face the choice of either reducing their crypto holdings to retain inclusion or forgoing passive capital from market indexes entirely. Analysts warn that a mass sell-off triggered by a reaction to the MSCI changes could negatively impact digital asset prices.
As the situation develops, the Bitcoin community remains vigilant, reflecting ongoing tensions between traditional financial institutions and the burgeoning cryptocurrency sector.
