The backlash against financial services company JP Morgan from Bitcoin (BTC) and supporters of treasury company BTC Strategy continued to swell on Sunday as calls for a “boycott” of JP Morgan grew.
THE anger of the Bitcoin community followed the announcement that MSCI, formerly Morgan Stanley Capital International, an index company that sets the criteria for inclusion in the index, is likely to exclude crypto cash companies of its indices in January 2026.
J.P. Morgan common MSCI news in a research note. “I just withdrew $20 million from Chase and sued them for credit card malfeasance,” Grant Cardone, real estate investor and Bitcoin advocate. said in response to a call for boycott the financial services giant.
“JP Morgan Crash and Buy Strategy and BTC”, Max Keizer, Bitcoin Defender saidas the online boycott movement gained momentum.
The exclusion of crypto treasury companies from stock indexes could trigger an automatic sale of their shares by funds and asset managers mandated to purchase specific types of financial instruments, and could negatively impact crypto markets.
Related: Saylor shrugs off suggestion Wall Street ‘hurt’ Bitcoin amid latest crash
Strategy founder Michael Saylor breaks his silence and responds to MSCI
The strategy entered the Nasdaq 100a stock index of the 100 largest companies by market capitalization of the technology-oriented stock market, in December 2024
This allowed Strategy to reap the benefits of passive capital flows from funds and investors holding the Nasdaq 100.
Michael Saylor, founder of the strategy replied on Friday, to MSCI’s proposed policy change, stating: “The strategy is not a fund, trust or holding company.”
“Funds and trusts passively hold assets. Holding companies are investment-based. We create, structure, issue and operate,” Saylor said, adding that Strategy is a “Bitcoin-backed structured finance company.”
The proposed change to MSCI listing criteria would force any treasury company with 50% or more of its balance sheet in crypto to lose its index status.
These companies would then face one of two choices: reduce their cryptocurrency holdings below the threshold for inclusion in the index, or lose passive capital flows from market indices.
A sudden sell-off in crypto treasury companies affected by the proposed MSCI change could drive down prices of digital assets, according to analysts.
Review: The Bitcoin vs stablecoins confrontation looms as the GENIUS Act approaches
