JPMorgan has been accused by members of the Bitcoin Community and Strategy, which is the largest corporate BTC holder, of spreading doubt, fear and uncertainty about Strategy.
JPMorgan’s notes are leveraged investments tied to Bitcoin’s price (BTC). The product tracks BTC but amplifies the outcome, giving holders 1.5 times the gains — or the losses — through December 2028. According to the SEC, these notes will be launched in December 2025. filing.
This move was a sharp one criticism Many in the Bitcoin community believe that JPMorgan has become a direct rival to BTC Treasury companies, and is motivated to undermine companies such as Strategy so it can promote its structured financial products.
“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,” said A Bitcoiner at X adds: “the same institutions attacking MSTR are copying the strategy.”
Bitcoin enthusiast Simon Dixon noted The upcoming JPMorgan product is real “to trigger margin calls on Bitcoin-backed loans,” It is not true to say that the claim will be made “force sell pressure from Bitcoin treasury companies in down markets.”
Now, both crypto-fanatics and Strategy enthusiasts are calling for a boycott of JPMorganBitcoiners are encouraged to close their accounts with the giant financial services company and dispose of any stock they own.
Related: Strike CEO debanked by JPMorgan, Lummis sounds ‘Chokepoint 2.0′ alarm
MSCI rule change proposal triggers clash
MSCI, the former Morgan Stanley Capital International company, which is responsible for managing stock indices and determining criteria to be included in indexes, first proposed a change of policy. excluding treasury companies from its products.
In January 2019, the proposed change will bar crypto-treasury firms with at least 50% of assets held in cryptocurrency from being included in the index.
JPMorgan shared The proposed policy change in an November research note drew sharp criticisms from BTC investors and the BTC community.
The exclusion of crypto-treasury firms from the stock market indexes could deprive them of passive capital flow and force these companies into selling off their crypto assets to be eligible for inclusion in indexes. driving asset prices down further.
Magazine: Pakistan will deploy Bitcoin reserve in DeFi for yield, says Bilal Bin Saqib
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Source: cointelegraph.com
