Bitcoiners are calling for a boycott of US bank JP Morgan for discriminating against cryptocurrency treasury firms.
It was recently announced that in January 2026, MSCI, a JP Morgan-owned organization, will exclude firms whose assets consist of more than 50% coins and tokens from its indices tracking corporate stock prices. Experts believe that these institutions are investment funds and therefore should not be included in the indices.
This news has drawn the ire of JP Morgan from holders of digital assets and securities issued by crypto treasuries, as removing the stocks from indices will certainly lead to a drop in their price.
Bitcoin promoter Grant Cardone was so outraged that he withdrew $20 million from the bank and filed a lawsuit against JP Morgan for alleged credit card fraud. He asked anyone concerned about the fate of virtual currencies to stop using the company’s services.
Our enemy has a name: the banking system. Look at the chart of JP Morgan’s stock price after the Great Financial Crisis [of 2008].
It’s been growing for the past 15 years. JP Morgan’s management has consolidated power, leading a criminal banking syndicate during both Obama terms, Trump’s first term, and Biden’s. «The federal government works for JP Morgan,» wrote Bitcoin proponent Fred Krueger.
Fred Krueger
As the movement to boycott JP Morgan gained momentum, Bitcoin-maximalist Max Kaiser made a more radical statement, calling for a collapse in the bank’s stock price and the purchase of securities of leading BTC treasury firm Strategy, as well as Bitcoin. However, Strategy CEO Michael Saylor was less harsh in his commentary and limited himself to criticizing the decision to recognize cryptocurrency treasury firms as investment funds.