Bitcoiners Accuse JPMorgan of Rigging the Game Against Strategy, DATs

by

In a truly fascinating turn of events, the Bitcoin community, along with its ever-hopeful allies from Strategy – the largest corporate holder of BTC – has risen up in a chorus of complaints. Their target? JPMorgan. The bank has proposed Bitcoin-backed notes, and naturally, accusations of fear, uncertainty, and doubt (FUD) have followed. And who is being targeted by this FUD? None other than Strategy and other crypto treasury firms. Truly a masterpiece of modern financial warfare, wouldn’t you agree? 🤔

Now, let us examine the product in question: JPMorgan’s Bitcoin-backed notes. A leveraged investment product tied to the price of Bitcoin (BTC), these notes track the digital currency but-wait for it-amplify the results. Yes, folks, you can now enjoy 1.5 times the gains (or losses) all the way until December 2028. A risky gamble, if I ever saw one. These notes, mind you, are set to launch in December 2025, at least according to the SEC filing. Talk about the future, huh?

The Bitcoin community, naturally, was not amused. They saw JPMorgan’s product as a direct challenge to Bitcoin treasury companies. And as you can imagine, accusations have flown thick and fast. The theory? JPMorgan, seeking to carve out its own piece of the Bitcoin pie, is using its financial muscle to discredit companies like Strategy. How charming. It’s almost like they’re trying to push Strategy into obscurity in favor of their shiny new financial tool. 🏦💸

One particularly irate Bitcoiner took to X, exclaiming: “Saylor opened the door to the $300 trillion bond market and $145 trillion fixed income market. Now, JP Morgan is launching Bitcoin-backed bonds to compete.” You know, no big deal. And of course, there were the predictable follow-up remarks: “The same institutions attacking MSTR are copying the strategy.” Because why not, right? If you can’t beat them, copy them. 🧐

But it wasn’t just the loud voices of frustrated Bitcoiners. Simon Dixon, a vocal Bitcoin advocate, chimed in, suggesting that JPMorgan’s new product is really just a ploy to “trigger margin calls on Bitcoin-backed loans.” Translation? A little bit of market manipulation. According to Dixon, this could “force sell pressure from Bitcoin treasury companies in down markets.” All for a quick profit, of course. Well, isn’t that just lovely? 😏

Not to be outdone, the Bitcoin faithful have now rallied around a new cause: boycotting JPMorgan. There’s a call to arms, urging fellow Bitcoiners to shut down their accounts with the bank and sell any shares they may own. Clearly, the battle lines have been drawn, and JPMorgan is squarely in the crosshairs. 📉

MSCI Rule Change Proposal Triggers Clash

But that’s not all, folks. The firestorm really kicked off when MSCI – once known as Morgan Stanley Capital International – proposed a rule change. This company, which manages stock indexes and sets criteria for inclusion, decided it was time to shake things up a bit. The proposal? A policy shift that excludes crypto treasury companies from its products. Oh, how exciting! What’s more, this change is set to take effect in January, which is conveniently right around the corner. The new rule would bar any crypto treasury companies with 50% or more of their assets in cryptocurrencies from inclusion in the index. So, you know, if your assets are mainly in crypto, tough luck! 🥳

The news was shared in a November research note by JPMorgan, which, of course, drew the wrath of the BTC community and those who had backed Strategy. A predictable reaction, really. If you take away the ability to be included in stock indexes, you deny these companies passive capital flows, forcing them to sell off their crypto holdings to make the cut. And of course, that drives asset prices down even further. It’s a beautiful mess of market manipulation. But what’s a little collateral damage in the world of finance, right? 🙄

Read More

2025-11-28 01:21