U.S. real estate entrepreneur Grant Cardone has joined forces with members of the cryptocurrency community to call for a boycott of JPMorgan after the bank warned it could face outflows of up to $2.80 billion if Strategy (MSTR) is removed from the MSCI index.
Analysts at JPMorgan 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 have accused JPMorgan of launching a "premeditated attack" on MSTR shareholders, with prominent figures including Max Keiser and John Deaton participating in the boycott. The community has also accused JPMorgan of shorting MSTR and criticised 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 05:21:16
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