Anger towards JPMorgan spread quickly through social platforms this weekend after reports linked the bank to a policy change that could affect companies holding large portions of Bitcoin.
According to reports, MSCI – the index company formerly known as Morgan Stanley Capital International – is likely to tighten its listing rules in January 2026, a move that will remove companies with 50% or more of their balance sheets in crypto from major indices.
That potential move has turned a technical index case into a broader public reaction aimed directly at the bank that shared the research note.
JP Morgan: Index change sparks outrage
The strategy, which will join the Nasdaq 100 in December 2024, benefits from steady passive capital flows associated with index membership.
Based on reports, the proposed rule would force companies with high crypto exposure to choose between cutting their Bitcoin holdings below the 50% threshold or losing the index-driven demand that supports their shares.
Investors and some analysts have warned that any outcome could lead to sharp selling by funds that must follow index rules, and the selling could send crypto prices soaring.
$mstr – JPM says MicroStrategy is “at risk of being excluded from major equity indices as the January MSCI decision approaches.”
“MSCI is now considering removing MicroStrategy and other digital asset treasury companies from its equity indices…if… pic.twitter.com/gMqlYtcZII
– Matthew Sigel, Fixing the CFA (@matthew_sigel) 20 November 2025
Public Figures Fan The Flames Vs. JP Morgan
High-profile voices quickly pushed the boycott story. Real estate investor Grant Cardone said he withdrew $20 million from Chase and threatened legal action over credit card disputes.
Media host Max Keizer urged followers to target JPMorgan and buy shares of Strategy& Bitcoin instead.
Crash JPMorgan, Buy $mstr (and Bitcoin) https://t.co/dRoxYSlGdL pic.twitter.com/BS0fRzT5HV
– Max Keiser (@maxkeiser) 23 November 2025
Social posts and online threads amplified those calls, turning technical policy details into a campaign to attack the bank where it matters: customer money and public image.
The enemy has a name: It’s the banking system.
Take a look at JPM’s charts since the great financial crisis. This has been going on smoothly for the last 15 years.
JPMorgan is consolidating its power as head of banking crime syndicate during both Obama, Trump terms… pic.twitter.com/YisF732oa5
– Fred Krueger (@dotkrueger) 22 November 2025
Strategy pushes back its classification
According to statements from Strategy’s leadership, led by Michael Saylor, the company does not view itself as a fund or trust that simply holds assets.
The founder described the business as a Bitcoin-backed structured finance firm that issues and operates products rather than passively holding investments. This distinction matters because MSCI’s draft criteria focus on passive holding structures.
MSCI reacts to index case
Strategy is not a fund, not a trust and not a holding company. We are a publicly traded operating company with a $500 million software business and a unique treasury strategy that uses Bitcoin as productive capital.
This year alone, we have accomplished…
– Michael Saylor (@saylor) 21 November 2025
If MSCI finalizes the change in January 2026, companies whose crypto holdings exceed the limit will face immediate pressure to make changes to their balance sheets or face delisting from indexes that attract millions in passive inflows.
BTCUSD trading at $87,127 on the 24-hour chart: TradingView
Market Risks and Next Steps
Analysts say the practical impact could be swift. Forced rebalancing by index-tracking funds may lead to concentrated selling of affected stocks.
If multiple Treasury firms sell Bitcoin at the same time to meet the new limit, the digital-asset’s prices could collapse, adding another layer of stress.
For now, the rule is described as tentative, not final. Market players are awaiting a formal announcement and any public response from JPMorgan, which has not provided a detailed rebuttal to the wave of criticism.
Display image from Gemini, charts from TradingView
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