BTC Sessions

BlackRock & JP Morgan Conspire to Destroy MSTR (Timeline Explained)

Dec 2, 2025
Guest
Brandon Keys
Brandon Keys, a Bitcoin strategist and on-chain analyst from Green Candle, dives into the alarming coordinated attack by JP Morgan and BlackRock on MicroStrategy. He reveals how banks are trying to crush Michael Saylor's Bitcoin treasury strategy, highlighting margin hikes and MSCI exclusions. Brandon argues that this dip presents a prime buying opportunity and underscores the importance of self-custody. He also discusses the shifting dynamics of Bitcoin adoption, the impact of whale buying patterns, and the broader macroeconomic outlook for crypto.
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INSIGHT

Coordinated Pressure On MicroStrategy

  • Brandon Keys lays out a timeline suggesting JP Morgan, BlackRock and others coordinated pressure on MicroStrategy (MSTR) over six months.
  • He argues this targets MSTR because it threatens banks' role as corporate treasury and access to the $500T fixed-income market.
INSIGHT

Margin Hikes And MSCI Timing

  • JP Morgan raised margin requirements on MSTR positions, coinciding with large sell-offs and a ~25% drop in JP Morgan client holdings.
  • Brandon Keys flags the MSCI review and targeted mention of MicroStrategy as suspicious timing to force outflows.
INSIGHT

Bit Bonds As A Counterplay

  • Banks are exploring 'bit bonds' using iBit ETFs as collateral to capture fixed-income flows and pull capital away from MSTR.
  • Keys frames this as incumbents co-opting Bitcoin demand to keep corporations in the banking ecosystem.
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