Bitcoin Community, Grant Cardone Call For JPMorgan Boycott Over MSCI Strategy Issue, Epstein Ties

Growing calls are emerging within the Bitcoin community for a boycott of JPMorgan Chase. This sentiment has intensified following the bank's recent research note indicating that MSCI may delist Michael Saylor’s Strategy (MSTR) from its indexes. The backlash has been further fueled by newly released Senate findings that have revived scrutiny of the bank's handling of transactions involving sex offender Jeffrey Epstein.

The campaign to boycott JPMorgan has garnered support from notable figures, including property magnate and author Grant Cardone. Cardone announced that he has closed his JPMorgan accounts and encouraged others to follow suit.

"I cancelled my JPM account and moved entire account to Wells," Cardone stated to his 1.2 million followers on X. "Also, don’t use chase credit card if you’re worried about fraud. More to come."

JPMorgan informed its clients last week that MSCI is considering whether to exclude companies from its indexes that hold more than half of their assets in cryptocurrency. This decision is anticipated in January. The bank cautioned that Strategy, which is the largest corporate holder of Bitcoin, could face a significant loss of investment flows, potentially up to $12 billion, if it is excluded from these indexes.

The online backlash gained considerable momentum after the release of new Senate documents, which suggested that JPMorgan had a history of under-reporting suspicious transactions made by Jeffrey Epstein over several years.

Adding further fuel to the online campaign against the bank was the news that JPMorgan had closed the bank accounts of Strike CEO Jack Mallers in September.

Bitcoin advocate and author Adam Livingston expressed his concerns on X, questioning the bank's actions. "Why is JP Morgan DEBANKING one of the most prominent Bitcoiners, the Trump family, AND instituting a 95% margin requirement for MSTR?" Livingston wrote. "On top of that, knowingly banking for Epstein for 5+ years AFTER he SOLICITED A CHILD for sex? BOYCOTT JP MORGAN CHASE."

Max Keiser Urges Followers to "Crash JP Morgan, Buy $MSTR"

Bitcoin maximalist Fred Kreuger informed his 187,800 followers on X that the traditional banking system is an "enemy" of the crypto industry.

"JP Morgan has been consolidating its power as the head of the Banking Crime syndicate through both Obama terms, Trump 1.0 and Biden," Krueger stated, alleging that even the U.S. Federal Reserve operates under the influence of the banking giant.

"They HATE Bitcoin, DEFI and Stablecoins," he added. "They quietly architected Chokepoint 1.0 and 2.0. Now, they see Bitcoin as vulnerable and they are putting the screws on MSTR."

Similarly, fellow Bitcoin advocate Max Keiser encouraged his 663,000 X followers to "crash JP Morgan" and "buy $MSTR (& Bitcoin)."

Saylor Responds to MSCI Index Risk

MSCI had previously stated that certain crypto treasury firms, such as Strategy, might be more akin to investment funds that are ineligible for inclusion in its indexes.

Michael Saylor responded to these concerns on Friday in a post on X. He clarified, "Strategy is not a fund, not a trust, and not a holding company. We’re a publicly traded operating company with a $500 million software business and a unique treasury strategy that uses Bitcoin as productive capital."