TechFlow, November 24 — According to Crypto Briefing, American real estate entrepreneur Grant Cardone has joined cryptocurrency community members in calling for a boycott after JPMorgan warned that Strategy could face up to $2.8 billion in outflows if it is removed from the MSCI index.
JPMorgan analysts stated in a report this week that if other index providers follow MSCI's move, total divestments could reach $8.8 billion. Affected by this news, Strategy shares (MSTR) dropped below $200 on Wednesday and continued falling to around $170 by Friday’s close—the lowest level this year. The stock had previously peaked above $450 in mid-July and has since declined 41% year-to-date.
Bitcoin supporters have accused JPMorgan of a "premeditated attack" on MSTR shareholders, with prominent figures such as Max Keiser and John Deaton joining the boycott. The community has also accused JPMorgan of shorting MSTR and criticized its ties to Jeffrey Epstein.
