Did JPMorgan Really Declare War on Bitcoin? Here's What’s Actually Going On

Social media exploded in recent days with claims that JPMorgan was betting against Bitcoin through a massive short position in MicroStrategy (MSTR). Some said a 50% rise in BTC would be an “existential threat” to the bank. The rumors triggered GameStop comparisons, boycott calls, and online campaigns to buy MSTR stock. But according to financial analysts, it’s all fiction.

A viral story with no foundation The frenzy began on November 23 when well-known Bitcoin advocate Max Keiser posted on X, alleging without any proof that JPMorgan was heavily shorting MSTR. His post quickly went viral, reaching millions. No primary sources were cited — and anyone trying to correct the misinformation was labeled a “bank defender.”

Official records prove the opposite Financial journalist Shanaka Anslem Perera referred to JPMorgan’s official SEC filing — Form 13F-HR, dated November 7, 2025. It clearly shows:

JPMorgan holds no open short position in MicroStrategy. Yes, the bank reduced its MSTR stake by 24.5% and holds some call and put options. But the total declared short interest is zero. The put options, cited as “evidence” in viral posts, are standard hedging instruments — especially for a bank managing $4.6 trillion in assets.

This is not another GameStop Many commentators compared MSTR to GameStop in 2021, but the conditions are completely different. GameStop’s short interest once exceeded 140%, while MicroStrategy’s is under 10%. GameStop also had fewer freely traded shares, and short positions were concentrated among a few hedge funds. That’s not the case with MSTR. In short: a structural short squeeze like GameStop simply isn’t possible here — and JPMorgan has nothing to do with it.

While rumors spread, real market moves went unnoticed While X (Twitter) was flooded with conspiracy theories, real developments were quietly unfolding. JPMorgan’s portfolio adjustment happened at the same time institutions were increasing their Bitcoin exposure — just via a different channel. Harvard University increased its holdings in BlackRock’s spot Bitcoin ETF (IBIT) by 257%. Abu Dhabi’s Al Warda fund raised its IBIT position by 230%. And total inflows into U.S. spot Bitcoin ETFs have now surpassed $60.8 billion.

MicroStrategy’s leveraged edge is fading For years, MicroStrategy was treated as a “leveraged Bitcoin stock.” But that edge is eroding. The company’s market cap is drifting away from the value of its Bitcoin reserves. Now it’s facing potential removal from the MSCI index in January 2026 — a move that could trigger billions in forced sales by institutional funds. JPMorgan’s exit isn’t an attack — it’s just prudent risk management.

Conclusion: No conspiracy, just portfolio rebalancing JPMorgan hasn’t declared war on Bitcoin. There’s no short position. No plan to crash MicroStrategy. What we’re seeing is a shift in institutional behavior. Investors are moving away from speculative equities and into regulated ETF structures. The internet spreads stories fast — but facts still matter more than viral fiction.

#bitcoin , #BTC , #JPMorgan , #MicroStrategy , #CryptoInvesting

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