Key Insights
- •Rumors suggest JPMorgan holds a massive short position on MSTR stock, betting the stock will decline.
- •Speculation has emerged that the U.S. government could take stakes in MSTR and Coinbase, potentially disrupting short positions.
- •Combined, these factors have fueled talk of a possible GameStop-style short squeeze, with a rumored target of a 50% price jump.
- •Analysts and traders caution that these claims are unverified and advise treating the information with skepticism.
MSTR stock, the trading symbol for Strategy Inc. (NASDAQ: MSTR), closed at $170.50 on Friday, November 21, 2025, capping a brutal month that saw shares drop 43% amid Bitcoin’s 30% slide from its yearly high.
Rumors exploded over the weekend on X, alleging JPMorgan Chase holds a massive short position on MicroStrategy (MSTR) stock, potentially vulnerable to a 50% rally that could force a GameStop-style squeeze and wipe out billions in gains.
These claims, amplified by Bitcoin advocates like Max Keiser, coincide with a broader backlash against the bank, including reports of thousands closing accounts in protest.
While unverified, the chatter has reignited debate on Strategy’s role as a leveraged Bitcoin proxy, with short interest at 9.74% as of November 15, per Nasdaq data, far below GameStop’s 140% peak in 2021 but enough to fuel speculation if retail piles in.
MSTR Stock: The JPMorgan Short Rumor Takes Center Stage
Whispers of JPMorgan’s alleged short on MSTR stock surfaced prominently on November 23, 2025, via X posts from influencers like @TokenTideCrypto.
In a post viewed over 195,000 times, the account claimed, “JP Morgan has a huge short position on MicroStrategy’s $MSTR. This is why they are FUDing against #BTC and Strategy to profit hundreds of millions.”
This narrative gained traction amid JPMorgan’s public warnings. On November 20, the bank’s analysts flagged risks of exclusion of the MicroStrategy (MSTR) stock from MSCI equity indices, estimating up to $2.8 billion in forced selling by passive funds if reclassified as a “fund” rather than a company.
Short interest stood at 25.28 million shares as of November 15, down slightly from 25.37 million two weeks prior, according to MarketBeat’s bi-weekly update on November 23.
Borrow fees for MSTR stock hovered at 1.5% annualized, per Fintel data updated November 24, indicating steady but not extreme demand from shorts.
The community reaction turned fiery. Max Keiser, a vocal Bitcoin proponent, posted on November 23: “UNCONFIRMED: JP Morgan appears to have an existentially threatening short $MSTR position that can potentially bankrupt $JPM if $MSTR trades 50% higher above Friday’s close. GAMESTOP VIBES INTENSIFY!!”
His tweet, viewed 1.2 million times, sparked calls for a “rage trade,” echoing GameStop’s 2021 frenzy. Pro-crypto lawyer John E. Deaton added fuel, stating on X, “If JPMorgan is short Saylor and $MSTR – I hope a GameStop rage trade occurs and costs JPM billions.”
MicroStrategy Stock Ties to Broader Index Drama
The vulnerability in MicroStrategy stock ties directly to its status as a digital asset treasury (DAT). Strategy, formerly MicroStrategy, holds 641,000 BTC, valued at about $56 billion at $87,000 per Bitcoin pricing.
This makes MSTR stock a high-beta play on BTC, with shares trading at a 1.16x net asset value multiple, the lowest in the cycle, according to JPMorgan’s analysis.
The index threat looms large. MSCI, the world’s second-largest index provider, announced on October 10, 2025, that it was reviewing whether DATs like Strategy qualify as operating companies or investment vehicles.
A final ruling comes on January 15, 2026. Crypto analyst Ran Neuner (@cryptomanran) broke this down in an X thread on November 18: “On EXACTLY 10th October, MSCI published [guidance] questioning whether companies that hold crypto assets… should be considered as ‘companies’ or ‘funds’.”
If deemed funds, exclusion from indices could trigger $11 billion in outflows, Bankless estimated on November 21, hitting peers like Marathon Digital and Riot Platforms too.
Institutional moves underscore the pressure. Wall Street giants, including BlackRock trimmed $5.38 billion in MSTR stock during Q3 2025, dropping holdings from $36.32 billion to $30.94 billion, per 13F filings.
Short-seller Jim Chanos closed his MSTR stock bearish bets in late October, citing a collapsing premium to NAV, as he told CNBC on November 1.
Yet Arizona’s pension fund bucked the trend, scooping up $15 million in MSTR stock on November 22, per state disclosures— a rare vote of confidence amid the rout.
Government Stake Whispers Add Fuel to MSTR Stock Fire
Layered atop the short buzz, rumors emerged of U.S. government interest in MSTR stock. On November 23, @TheBTCTherapist posted: “RUMOR: The U.S. is contemplating a multibillion-dollar investment in $MSTR & $COIN,” tagging Treasury Secretary Scott Bessent and President Trump.
The claim, viewed 850,000 times, drew parallels to the administration’s August 2025 purchase of a 10% stake in Intel for national security reasons, as reported by Reuters then.
Bitcoin pioneer Max Keiser amplified it, suggesting the White House engineered Bitcoin’s November dip to compress MSTR stock’s mNAV to 1.0x for a strategic buy-in.
“The US is contemplating a multi-billion-dollar investment in MSTR, and they needed the mNAV to be 1 before it could make sense,” echoed X user @TeddyCleps in a November 23 thread. No filings or official comments back this.
These tales dovetail with Trump’s pro-crypto tilt. The GENIUS Act, signed July 21, 2025, greenlit Bitcoin as collateral for federal loans.
Strategy capitalized, buying 6,220 BTC for $739.8 million that week. If true, a government stake could spike MSTR stock 50% to $255.75, per TradingView charts shared in @TokenTideCrypto’s post, squeezing shorts and validating Keiser’s bankruptcy warning.
Boycott Backlash and Community Mobilization
The feud has mobilized Bitcoiners against JPMorgan. Reports of account closures surged: Grant Cardone, a real estate mogul, tweeted on November 23, “I cancelled my JPM account and moved entire account to Wells,” with a screenshot, amassing 14,000 likes.
Ash Crypto claimed on November 24, “Thousands of people are closing their JP Morgan accounts following a premeditated attack on Bitcoin / $MSTR shareholders,” backed by user-submitted proofs in replies.
This echoes Strike CEO Jack Mallers’ ordeal. On November 23, he revealed that JPMorgan shuttered his family’s 30-year accounts without explanation, posting: “Last month, J.P. Morgan Chase threw me out of the bank… ‘We aren’t allowed to tell you’.”
Viewed 3 million times, it tied into broader grievances, including Senate probes into JPMorgan’s Epstein ties.
X chatter reflects the divide. A November 24 semantic search for “MSTR short squeeze JPMorgan” yielded 15 recent posts, including @PhatmoSpace’s call: “Pump $BTC. Pump $MSTR. Liquidate JPMorgan!!”
Yet skeptics abound. @jasonlukas37 posted November 24: “JPMorgan shorting MSTR to bankruptcy? 100% FAKE. SEC 13F: ZERO shorts, only long shares + tiny puts. MSTR short interest=9.74% (not GME 140%).”
Harvard’s endowment, meanwhile, tripled its iShares Bitcoin Trust stake to $443 million in Q3, per filings, signaling institutional BTC bets persist despite MSTR stock woes.
Weighing the Odds: Squeeze or Sideshow?
The path of MicroStrategy (MSTR) stock hinges on catalysts. Bitcoin at $85,000—down 35% from peaks—drags the proxy, but a rebound to $90,000 could lift shares 20%.
Short interest at 9.74% offers squeeze potential if volume spikes; GameStop’s 140% threshold amplified retail frenzy, but $7.4 billion market cap of MicroStrategy demands coordinated buying.
Government rumors, while thin, highlight Strategy’s symbolic weight—Saylor’s “productive capital” thesis, as he tweeted November 21: “Strategy is not a fund… We’re a publicly traded operating company with a $500 million software business.”
For MSTR stockholders, this mix of rumor and reality tests resolve. History shows social media can bend markets, as in GameStop.
But with institutional outflows at $5.38 billion and BTC volatility unchecked, caution tempers hype. As one X user noted on November 24 (@lawnboygeorge): “They’ve certainly anticipated all potential outcomes… There will be no squeeze.” The truth may lie in January’s verdict—and what Bitcoin does next.