U.S. real estate entrepreneur Grant Cardone joined forces with members of the cryptocurrency community to call for a boycott after JPMorgan warned that Strategy could face outflows of up to $2.80 billion if it is removed from the MSCI index.
Analysts at JPMorgan Chase said in a report this week that if other index providers follow MSCI's lead, the total withdrawal could reach $8.80 billion. As a result, Strategy stock (MSTR) fell below $200 on Wednesday and continued to slide to a year-low of about $170 at Friday's close. The stock had previously peaked above $450 in mid-July and is down 41% for the year.
Bitcoin proponents accused JPMorgan of launching a "premeditated attack" on MSTR shareholders, including prominent figures such as Max Keiser and John Deaton, who participated in the boycott. The community also accused JPMorgan of shorting MSTR and criticized its ties to Jeffrey Epstein.
U.S. real estate entrepreneur Grant Cardone joins bitcoin supporters in calling for a boycott of JPMorgan Chase
2025-11-24 05:12:10
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