JPMorgan was rumored to have a short micro strategy, which would fuel Crypto Frenzy

Critics say the bank recycled an old story about its exclusion from the MSCI index to fuel MSTR sales, calling it a coordinated “hit job” for Saylor’s firm.

JPMorgan is facing a growing online backlash after a wave of X-posts accused the bank of engineering a targeted hit on Strategy (MSTR) and taking a huge short position that could backfire if stock prices rise.

The claims, while unproven, have lit up Crypto Twitter, with some users calling for a boycott of the banking giant and drawing comparisons to GameStop’s short squeeze.

The accusations and the community’s response

The controversy gained momentum following a recent report from the Wall Street titan warned that strategy may have been excluded from major stock indexes such as the MSCI. Analysts at the company suggested this could generate billions of dollars in automated sales.

However, the crypto community was quick to label this a coordinated ‘hit job’, with influencer Adrian pointing out that the report based to an MSCI consultation paper dated October 10, which claims:

“They recycled an expired story to accelerate a fire sale. This is not news. It is a coordinated hit.”

The situation worsened when broadcaster Max Keizer insinuated that the bank’s short position was so large that a 50% increase in the MSTR price could potentially threaten the bank with bankruptcy.

This prompted a wave of dramatic responses, including from pro-crypto attorney and Massachusetts Senate candidate John E. Deaton referred to the financial institution’s past legal issues, including:

“If JPMorgan… is short Saylor and $MSTR, I hope there is a GameStop frenzy trade that costs JPM billions.”

The call to action was clear, with author Adam Livingston to declare a “BOYCOTT JPMORGAN” and calling on people to move their accounts. Businessman Grant Cardone said he had already done this and moved his entire account to another bank.

You might also like:

Nevertheless, not everyone believed in the idea of ​​a scripted attack. Some users argued that the market reaction is “emerging behavior” due to genuine concerns about index rules and risk.

A clash of financial worlds

The feud between JPMorgan and Strategy is representative of a deeper ideological conflict between traditional finance and the digital asset economy. The business intelligence company, led by executive chairman Michael Saylor, has pioneered the use of the corporate treasury strategy to hold Bitcoin, which now holds more than 649,000 BTC.

In a Nov. 21 statement, Saylor pushed back against MSCI’s concerns, arguing that his company is an innovative operating company and not a passive fund. Him later told CoinDesk opined that the bank’s report was “alarmistic” and that any possible exclusion from an index was likely already reflected in the share price.

The community’s anger is fueled by the perception that the legacy institution is attacking a flagship Bitcoin company while expanding its own crypto services.

As reported in October, the company now plans to accept Bitcoin and Ethereum as collateral for loans. This apparent contradiction was noted by commentator Simon Dixon, who suggested that “JPMorgan and the broader financial-industrial complex are using their old vassalization tactics to control $MSTR.”

For many Bitcoin proponents, this is not just a market dispute, but a battle for the future of the financial system itself.