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JPMorgan is facing new criticism from the Bitcoin community, this time over its plans to launch leveraged notes linked to Bitcoin.
The investment bank submitted a deposit to the U.S. Securities and Exchange Commission (SEC) earlier this week to launch a type of leveraged investment product tied to the price of Bitcoin.
It aims to give investors the opportunity to realize 1.5 times the gains or losses BTC experiences through 2028, while also providing 30% downside protection. The notes are scheduled to launch in December.
But what appeared to be another step toward widespread adoption of Bitcoin has sparked anger among Bitcoiners.
JPMorgan Product Reportedly Put Selling Pressure on Bitcoin Cash Companies
Some say this puts the Wall Street banking giant in direct competition with BTC treasury companies and claim that the bank now has an incentive to marginalize companies like Strategy, the world’s largest BTC holding company, in order to promote its own structured finance product.
Among the critics is BTC advocate Simon Dixon.
“The Financial Industrial Complex (FIC) has rolled out yet another leveraged speculative paper product designed to wedge itself between you and your Bitcoin,” Dixon said on X.
JP MORGAN REQUESTES THE LAUNCH OF A NEW BOND BACKED TO Bitcoin
The Financial Industrial Complex (FIC) has rolled out another leveraged speculative paper product designed to wedge itself between you and your Bitcoin.
The FIC is now openly testing a full suite of Bitcoin-related software… pic.twitter.com/BWHrmgXgyt
-Simon Dixon (@SimonDixonTwitt) November 26, 2025
He warned that JPMorgan’s ratings could “trigger margin calls on Bitcoin-backed loans, force selling pressure from Bitcoin cash companies in down markets, and create buying pressure on manufactured goods in up markets so that the FIC can position itself well before the public even realizes the game has started.” »
The timing of the announcement is also being scrutinized as Strategy’s stock has fallen more than 51% over the past six months and 18% over the past month.
Strategy share price over the last 6 months (Source: Google Finance)
Bitcoiners call for boycott of JPMorgan
The Bitcoiners have started call for a boycott of the financial institution last week after its analysts warned in a research note that MSCI could remove Strategy’s MSTR from its indexes. A decision on the matter is expected by January 15.
There is speculation on
“So, JP Morgan sells shares of MSTR, increases margin requirement from 50 to 95%, pushes to exclude Strategy from the MSCI index, has a history of manipulating the price of BTC, calls for a price drop, expects a -35% pullback, and announces a Bitcoin-backed bond,” BTC advocate The Bitcoin Therapist wrote in an X-message to his more than 250,000 followers.
JP Morgan therefore sells shares of MSTR and increases the required margin. from 50 to 95%, pushes for the exclusion of Strategy from the MSCI index, has a history of manipulating the price of BTC, calls for a price drop, expects a -35% withdrawal and announces a bond backed by Bitcoin.
And it’s just a coincidence? pic.twitter.com/9lOzrdLqaQ
– The ₿itcoin Therapist (@TheBTCTherapist) November 26, 2025
Meanwhile, Ran Neuner believes that JPMorgan, MSCI, and major political players “synchronized” to pressure MSTR as part of a broader effort to target Trump’s “entire crypto ecosystem.”
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