Strategy and the Bitcoin community call for a "boycott" of JPMorgan Chase

According to Cointelegraph, the backlash against financial services giant JPMorgan is rapidly growing among the Bitcoin community and supporters of Strategy, with calls to "boycott JPMorgan" gaining momentum on Sunday.

The anger in the Bitcoin community stems from a report that index company MSCI (formerly Morgan Stanley Capital International, responsible for determining whether companies can be included in indices) may exclude the cryptocurrency treasury company from its index in January 2026.

This news was shared by JPMorgan in a research report. In response, Bitcoin supporter and real estate investor Grant Cardone stated, "I just pulled $20 million from Chase (the bank under JPMorgan) and sued them for credit card violations." As the online boycott movement heats up, Bitcoin advocate Max Keiser also urged, "Crush JPMorgan, buy Strategy and BTC."

Strategy will enter the Nasdaq 100 index (composed of the 100 largest companies by market capitalization in the tech sector) in December 2024, thus benefiting from massive capital inflows from passive index funds. In response to MSCI's proposed adjustment, Saylor publicly stated, "Strategy is not a fund, not a trust, and not a holding company." "Funds and trusts passively hold assets; holding companies only hold investments." He further stated that Strategy is a "structured financial company backed by Bitcoin."