{"id":91378,"date":"2025-11-25T12:11:27","date_gmt":"2025-11-25T09:11:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=91378"},"modified":"2025-11-25T12:17:24","modified_gmt":"2025-11-25T09:17:24","slug":"investors-accuse-jpmorgan-of-targeting-michael-saylors-strategy","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/investors-accuse-jpmorgan-of-targeting-michael-saylors-strategy\/","title":{"rendered":"Investors accuse JPMorgan of targeting Michael Saylor\u2019s Strategy"},"content":{"rendered":"<p>JPMorgan has opened a short position in Strategy shares, claimed TV host Max Keiser, though there is no official confirmation.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">UNCONFIRMED: JP Morgan appears to have an existentially threatening short <a href=\"https:\/\/twitter.com\/search?q=%24MSTR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$MSTR<\/a> position that can potentially bankrupt <a href=\"https:\/\/twitter.com\/search?q=%24JPM&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$JPM<\/a> if <a href=\"https:\/\/twitter.com\/search?q=%24MSTR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$MSTR<\/a> trades 50% higher above Friday\u2019s close. <\/p>\n<p>GAMESTOP VIBES INTENSIFY\u203c\ufe0f<a href=\"https:\/\/twitter.com\/FoxBusiness?ref_src=twsrc%5Etfw\">@FoxBusiness<\/a> <a href=\"https:\/\/twitter.com\/cvpayne?ref_src=twsrc%5Etfw\">@cvpayne<\/a><\/p>\n<p>\u2014 Max Keiser (@maxkeiser) <a href=\"https:\/\/twitter.com\/maxkeiser\/status\/1992666678547640596?ref_src=twsrc%5Etfw\">November 23, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He added that a 50% rise in MSTR from Friday\u2019s close could bankrupt the bank.\u00a0<\/p>\n<p>Some users allege that JPMorgan intends to mount a coordinated attack against Strategy. They point to a 10 October report the bank circulated only at the end of November \u2014 42 days later.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">PROOF of coordinated FUD against <a href=\"https:\/\/twitter.com\/search?q=%24MSTR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$MSTR<\/a><\/p>\n<p>I said it feels manufactured. Here is the smoking gun.<\/p>\n<p>Look at the source date on the &#8220;news&#8221; they are using to panic you today. October 10th.<\/p>\n<p>This document has been public for 42 days.<\/p>\n<p>The market ignored it for 6 weeks. Now suddenly,\u2026 <a href=\"https:\/\/t.co\/Nu4S65cZ8n\">https:\/\/t.co\/Nu4S65cZ8n<\/a> <a href=\"https:\/\/t.co\/3UnyUjrvZk\">pic.twitter.com\/3UnyUjrvZk<\/a><\/p>\n<p>\u2014 Adrian (@_Adrian) <a href=\"https:\/\/twitter.com\/_Adrian\/status\/1991951871033139474?ref_src=twsrc%5Etfw\">November 21, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The document discusses the risk of MSTR being excluded from major MSCI equity indices, potentially triggering $2.8 billion of outflows. Matthew Sigel, head of digital-asset research at VanEck, affirmed this.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24MSTR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$MSTR<\/a> \u2014 JPM says MicroStrategy &#8220;at risk of exclusion from major equity indices as the January MSCI decision approaches.&#8221;<\/p>\n<p>&#8220;With MSCI now considering removing MicroStrategy and other digital asset treasury companies from its equity indices\u2026outflows could amount to $2.8bn if\u2026 <a href=\"https:\/\/t.co\/gMqlYtcZII\">pic.twitter.com\/gMqlYtcZII<\/a><\/p>\n<p>\u2014 matthew sigel, recovering CFA (@matthew_sigel) <a href=\"https:\/\/twitter.com\/matthew_sigel\/status\/1991616596419191285?ref_src=twsrc%5Etfw\">November 20, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cIn light of MSCI\u2019s decision to consider removing MicroStrategy and other digital-asset treasury companies from its equity indices, potential outflows could reach $2.8bn if MicroStrategy is removed from MSCI indices. Should other index providers adopt this practice, cumulative outflows across all equity indices could total $8.8bn,\u201d the expert quoted the report as saying.\u00a0<\/em><\/p>\n<\/blockquote>\n<p>As another argument for a coordinated attack, users noted that in July JPMorgan tightened margin requirements on loans backed by MSTR shares. In their view, that was when Strategy\u2019s problems began.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">MSTR was on a tear until JPMorgan quietly tightened margin rules on MSTR-backed loans in July. <a href=\"https:\/\/t.co\/Q50UH6RRXJ\">pic.twitter.com\/Q50UH6RRXJ<\/a><\/p>\n<p>\u2014 TFTC (@TFTC21) <a href=\"https:\/\/twitter.com\/TFTC21\/status\/1993010600071553025?ref_src=twsrc%5Etfw\">November 24, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Over the past six months, the shares of <a href=\"https:\/\/forklog.com\/en\/news\/michael-saylor-the-microstrategy-founders-biography-and-views\">Michael Saylor<\/a>\u2019s company have fallen by more than 51% \u2014 from $370 to $179.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"487\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-d4b93a77a67d063f-10454394447209835-1024x487.png\" alt=\"image\" class=\"wp-image-270420\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-d4b93a77a67d063f-10454394447209835-1024x487.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-d4b93a77a67d063f-10454394447209835-300x143.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-d4b93a77a67d063f-10454394447209835-768x365.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-d4b93a77a67d063f-10454394447209835-1536x730.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-d4b93a77a67d063f-10454394447209835.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/finance.yahoo.com\/quote\/MSTR\/\">Yahoo Finance<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Still, some disagree. Users called the sharp drop in MSTR since July a coincidence and <a href=\"https:\/\/x.com\/0xDawny\/status\/1993013371680284938\">noted<\/a> that tighter requirements are standard practice.\u00a0<\/p>\n<p>Notably, in the third quarter JPMorgan <a href=\"https:\/\/forklog.com\/en\/news\/blackrock-and-vanguard-sell-5-4bn-of-mstr-shares\">sold<\/a> Strategy shares worth $134 million.\u00a0<\/p>\n<p>Some in the crypto community also recalled GameStop and <a href=\"https:\/\/x.com\/TheFrankzy\/status\/1993018466551709868\">proposed<\/a> engineering a similar <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-short-squeeze\">short squeeze<\/a> against the bank.\u00a0<\/p>\n<p>At the same time, another scandal flared around the corporation related to Jeffrey Epstein. Democratic senator Ron Wyden of Oregon <a href=\"https:\/\/www.finance.senate.gov\/imo\/media\/doc\/memorandum_to_senator_wyden_on_jpmc-epstein_redactedpdf.pdf\">called<\/a> for an investigation into JPMorgan \u2014 the bank allegedly hid suspicious Epstein transactions worth more than $1 billion for years.\u00a0<\/p>\n<h2 class=\"wp-block-heading\">Crypto winter lows<\/h2>\n<p>The premium of Strategy\u2019s shares to bitcoin mNAV has approached lows last seen in 2021, TD Cowen analysts told <a href=\"https:\/\/www.theblock.co\/post\/380249\/strategy-bitcoin-premium-crypto-winter-lows-td-cowen\">The Block<\/a>. The experts shared updated charts:\u00a0<\/p>\n<figure class=\"wp-block-gallery alignwide has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"466\" data-id=\"270421\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-8139fda1b441653c-10454436608070725-1024x466.png\" alt=\"image\" class=\"wp-image-270421\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-8139fda1b441653c-10454436608070725-1024x466.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-8139fda1b441653c-10454436608070725-300x137.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-8139fda1b441653c-10454436608070725-768x350.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-8139fda1b441653c-10454436608070725.png 1338w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: TD Cowen\/The Block.\u00a0<\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"468\" data-id=\"270422\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-a0b991d290549dc6-10454443263489695-1024x468.png\" alt=\"image\" class=\"wp-image-270422\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-a0b991d290549dc6-10454443263489695-1024x468.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-a0b991d290549dc6-10454443263489695-300x137.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-a0b991d290549dc6-10454443263489695-768x351.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-a0b991d290549dc6-10454443263489695.png 1336w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: TD Cowen\/The Block.\u00a0<\/figcaption><\/figure>\n<\/figure>\n<p>Both show mNAV trending down toward the prior crypto-winter levels.\u00a0<\/p>\n<p>However, the specialists maintain an optimistic outlook on MSTR with a $535 target price.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cWe are not changing our base bitcoin forecasts and still expect Strategy to hold 815,000 BTC by the end of fiscal 2027. Accordingly, we project holdings above $185bn by December 2027, which implies an intrinsic value of roughly $540 per share,\u201d they stressed.\u00a0<\/em><\/p>\n<\/blockquote>\n<p>TD Cowen also deemed it likely that the company will be excluded from MSCI indices in February 2026. In their view, that awaits all companies with bitcoin on their balance sheets.\u00a0<\/p>\n<p>Saylor responded on 21 November, saying that \u201cclassification in the indices does not reflect the essence of the company.\u201d\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Response to MSCI Index Matter<\/p>\n<p>Strategy is not a fund, not a trust, and not a holding company. We\u2019re a publicly traded operating company with a $500 million software business and a unique treasury strategy that uses Bitcoin as productive capital.<\/p>\n<p>This year alone, we\u2019ve completed\u2026<\/p>\n<p>\u2014 Michael Saylor (@saylor) <a href=\"https:\/\/twitter.com\/saylor\/status\/1991875241107222701?ref_src=twsrc%5Etfw\">November 21, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cStrategy is not a fund, not a trust, and not a holding company. We are a publicly traded operating company with a $500 million software business and a unique treasury strategy that uses Bitcoin as productive capital,\u201d he wrote.\u00a0<\/em><\/p>\n<\/blockquote>\n<p>Saylor emphasized that no vehicle can replicate Strategy\u2019s activities.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cOur strategy is long-term, our conviction in Bitcoin is unshakable, and our mission remains unchanged: to build the world\u2019s first digital monetary institution based on digital money and financial innovation,\u201d he concluded.\u00a0<\/em><\/p>\n<\/blockquote>\n<p>Commentators <a href=\"https:\/\/x.com\/FinanceLancelot\/status\/1992018058614026605\">noted<\/a> that six months ago Saylor called Strategy a \u201cbitcoin treasury.\u201d In October 2024 he <a href=\"https:\/\/forklog.com\/en\/news\/michael-saylor-envisions-microstrategy-as-a-1-trillion-bitcoin-bank\">said<\/a> he intended to transform the firm into a bank for the first cryptocurrency with a market value of $1 trillion.<\/p>\n<p>At the time of writing, the company oversaw 649,870 BTC worth $56.5 billion, according to <a href=\"https:\/\/bitbo.io\/treasuries\/\">Bitcoin Treasuries<\/a>.\u00a0<\/p>\n<p>In October 2025, S&#038;P Global Ratings <a href=\"https:\/\/forklog.com\/en\/news\/sp-assigns-junk-bond-rating-to-strategy\">assigned<\/a> Strategy a junk-bond issuer rating.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JPMorgan has opened a short position in Strategy shares, claimed TV host Max Keiser, though there is no official confirmation.<\/p>\n","protected":false},"author":1,"featured_media":91379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Max Keiser claims JPMorgan shorted Strategy; no official confirmation.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,229,1208,1207],"class_list":["post-91378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-jpmorgan","tag-michael-saylor","tag-microstrategy"],"aioseo_notices":[],"amp_enabled":true,"views":"1364","promo_type":"1","layout_type":"1","short_excerpt":"Max Keiser claims JPMorgan shorted Strategy; no official confirmation.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/91378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=91378"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/91378\/revisions"}],"predecessor-version":[{"id":91380,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/91378\/revisions\/91380"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/91379"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=91378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=91378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=91378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}