Bitcoin Updates: Supporters of Bitcoin Challenge JPMorgan to Stop MSCI’s Plan for Exclusion

The

community, along with MicroStrategy (MSTR) supporters, have initiated a unified boycott against , intensifying disputes regarding the bank's involvement in a possible move by index provider to remove crypto-centric companies from key financial indices. This reaction comes after holding 50% or more of their assets in cryptocurrencies from its indices beginning January 2026. revealed this proposal in a research report, sparking swift backlash from Bitcoin enthusiasts and investors who see the change as a threat to crypto treasury firms’ access to financial markets .

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

and BTC" . The suggested MSCI policy could prompt automatic selling by passive funds and asset managers linked to these indices, potentially disrupting crypto markets and reducing liquidity for firms such as MicroStrategy, which joined the Nasdaq 100 in December 2024 .

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

. Still, JPMorgan analysts predict that MSCI’s exclusion could alone result in $2.8 billion in withdrawals from MicroStrategy, with total outflows potentially reaching $11.6 billion if other index providers adopt similar measures. The company’s valuation premium, once 2.7 times its net asset value, has now dropped to just 1.1, indicating declining investor trust .

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

. The result could transform the financial landscape for Bitcoin treasury companies, potentially forcing them to reduce their crypto exposure or look for new funding options.