American real estate entrepreneur Grant Cardone, along with Bitcoin supporters, called for a boycott of JPMorgan Chase.

According to Odaily Planet Daily, US real estate entrepreneur Grant Cardone and members of the cryptocurrency community have jointly called for a boycott of JPMorgan after the bank warned that Strategy (MSTR) could face outflows of up to $2.8 billion if it is removed from the MSCI index.

JPMorgan analysts stated in a report this week that if other index providers follow MSCI's lead, total withdrawals could reach $8.8 billion. As a result, Strategy's stock (MSTR) fell below $200 on Wednesday and continued its decline to a year-to-date low of around $170 at Friday's close. The stock had previously peaked above $450 in mid-July, and is now down 41% year-to-date.

Bitcoin supporters have accused JPMorgan of a "premeditated attack" on MSTR shareholders, with prominent figures including Max Keiser and John Deaton participating in the boycott. The community also accuses JPMorgan of shorting MSTR and criticizes its connections to Jeffrey Epstein.