JPMorgan, the U.S. multinational banking institution, has warned institutional clients that MicroStrategy could face removal from major equity indices. This warning has prompted a sharp response from Michael Saylor as Bitcoin (BTC) tumbles to its lowest levels since April.

In a note circulated to select market participants, some market analysts commented that JPMorgan warns the fallout could be severe: as much as $2.8 billion in passive outflows if MSCI ejects MicroStrategy, and up to $8.8 billion if other index providers follow. 

Saylor counters the warning

Matthew Sigel, Head of Digital Assets Research at VanEck, shared the note in an X post, which was not published publicly. According to him, the bank's analysis states that MSCI is "considering removing MicroStrategy and other digital-asset treasury companies."