BlockBeats News, November 24th, according to Cointelegraph, the backlash against financial services giant JPMorgan Chase is rapidly growing among the Bitcoin community and supporters of Strategy, with the Sunday call to “boycott JPMorgan Chase” gaining momentum.
The Bitcoin community’s anger stems from a piece of news: index provider MSCI (formerly known as Morgan Stanley Capital International, responsible for determining which companies are included in an index) may exclude the cryptocurrency treasury company from its indices in January 2026.
This news was shared by JPMorgan Chase in a research report. In response, Bitcoin supporter and real estate investor Grant Cardone stated: “I just pulled $20 million from Chase and am suing them for credit card fraud.” As the online boycott movement heats up, Bitcoin advocate Max Keiser also called out, “Take down JPMorgan Chase, buy Strategy and BTC.”
Strategy joined the Nasdaq 100 Index in December 2024 (consisting of the top 100 tech companies by market capitalization), thus benefiting from massive capital inflows from passive index funds. In response to the adjustment proposed by MSCI, Saylor publicly responded: “Strategy is not a fund, not a trust, and not a holding company.” “Funds and trusts are passive holders of assets; holding companies only hold investments.” He further stated that Strategy is a “Bitcoin-backed structured financial company.”
