The cryptocurrency community is actively discussing the actions of JPMorgan Chase following the spread of information about the possible exclusion of Strategy and other digital treasury companies (DAT) from MSCI indices in January 2026. Such news has raised concerns among investors and led to accusations of pressure on companies holding significant Bitcoin reserves.
This is reported by Business • Media
Reaction of the Crypto Industry and Potential Capital Outflow
Matthew Sigel, head of digital asset research at VanEck, stated that if MicroStrategy is excluded from the MSCI indices, a capital outflow of up to $2.8 billion could occur, and if similar decisions are made by other index providers, it could reach $8.8 billion.
“The outflow could amount to $2.8 billion if MicroStrategy is excluded from the MSCI indices, and $8.8 billion from all other stock indices if other index providers decide to follow MSCI’s lead.”
Instances of account closures at JPMorgan have already been reported among market participants, which are linked to a “planned attack on MSTR shareholders.”
Crypto enthusiasts like Grant Cardone are publicly announcing withdrawals from the bank and filing lawsuits, while other thought leaders are calling for a boycott. Cardone Capital became the first real estate company to include Bitcoin in its portfolio. It is worth noting that in October, MSCI began consultations regarding the exclusion of DAT, whose cryptocurrency holdings exceed 50%.
Position of the Founder of Strategy and Analyst Assessments
Michael Saylor, founder of Strategy, strongly disagreed with MSCI’s position and emphasized that the company is a structured financial institution with a real operational business, not a fund or trust. He noted that Strategy is a unique Bitcoin-backed company actively implementing digital credit instruments. In 2025, Strategy conducted five placements of digital securities totaling over $7.7 billion, including a new Bitcoin-backed instrument, STRC, for institutional and retail investors.
Saylor emphasized that the index classification does not reflect the essence of the company, and its strategy is long-term and focused on creating a world-class digital monetary institution. He underscored his unwavering faith in Bitcoin and stated that Strategy is prepared to withstand significant market fluctuations.
According to analysts, exclusion from the indices could trigger automatic sell-offs by funds that are required to hold only index assets, which would intensify pressure on the cryptocurrency market. Meanwhile, Strategy was already included in the Nasdaq 100 index in December 2024, allowing the company to attract significant passive investments.
Recently, experts from 10x Research assessed the likelihood of including Strategy in the S&P 500 at 60-70% contingent on a strong financial report for Q3, although the market remains skeptical about the company. For Q3 2025, Strategy reported a net profit of $2.8 billion.
At the same time, three leading analytical agencies simultaneously lowered their target prices for Strategy’s shares, explaining this by the decline in the Bitcoin premium—the difference between the market value of the company and its BTC reserves. Analysts believe that to execute its strategy, the company needs the Bitcoin price to be at $150,000. Although the asset reached an all-time high in October, by November the price had fallen below $81,000.
Despite this, Saylor emphasizes the decrease in Bitcoin’s volatility and confidence in the company’s resilience even during significant market downturns, calling Strategy “indestructible.”