Bitcoin faces two shocks: Nvidia's after-hours 8% drop on CEO Jensen Huang's affairs (with the board reportedly about to fire him) and MSCI's November 30 delisting of Strategy and Metaplanet — but Bitcoin's relationship to the delisting is indirect, and Nvidia opening red tomorrow is likely the bigger hit to tech and Bitcoin.
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00:00 Welcome back, guys. So, there's two things I want to talk about in this video. I didn't really want to make it, but it's it's two things that everyone's talking about. Uh, number one, Jensen Hang's uh tenure as CEO may be over at Nvidia. Something else just came out. If you haven't heard it, pretty bad. Number two is strategy and metaplanet both being delisted by this huge index.
00:27 What does that mean? What do both of these mean for markets and Bitcoin and crypto? Let's talk about it. So, right now, Bitcoin is sitting right around 735. Uh, more or less around the same as this morning. We did dip below a little bit to about 726 and now we're just hovering. We're hovering right around this support/trend line. Okay, today overall the stock market, especially tech, did have a good recovery.
00:57 This is from uh this is kind of like a relief bounce right now because last week was horrible. Earlier this week, not so good. Last two days we had a pretty good bounce, but it did not affect Bitcoin today, unfortunately. Um, one thing is look at Nvidia. Nvidia was up today about 3% right and obviously everyone has heard by now Jen Suhang um CEO of Nvidia had affair with alleged person that that is alleged spy okay for for China.
01:33 So, we don't know if that's proven yet or not, but there's a lot of rumors about that and how she used him uh to acquire a whole bunch of GPUs for some Chinese company and stuff like that. Don't know the exact details, but it was bad enough and it had people questioning whether or not Jensen should be thrown out as CEO. Right. So now this is what's happening in the aftermarket down about 8% and could be falling more because now has come out that Jensen had another fair first one actually.
02:05 Uh the recent one we heard of was the second one. This is the first one and there may be more who knows but this one is also troubling because this person right here Kimberly is someone that reports to him. Okay, she is Nvidia's vice president of healthc care. Uh, so that's the other thing. I mean, if it was just anyone else, I guess no one really care.
02:28 Um, obviously having affair is bad, but this looks even worse because it's someone that reports to him. generally speaking, it's frowned upon. Uh because who knows if you know he's taking advantage of her position or she's trying to get ahead. You know, it just doesn't look good. Uh so now that's two in a row and it has people questioning is he still the right person for the job?
03:02 Wall Street Journal supposedly said that they're about the board is about to fire him. Okay. There was another account, Bar Charts, that said they already fired him, but I think they're trying to decide whether or not to keep him. I mean, obviously, I think a lot of people think that there is no Nvidia without Jensen. He's the one that carried the company through thick and thin.
03:24 He brought him to become the largest, most valuable company on the planet. So, this is a very tough decision. And if he's thrown out, who's going to replace him? who qualified to replace him, right? So, these are the hard questions. Grant Cardone said, "What changed about the company?" Really, nothing. Uh, Nvidia is still going to sell out all their GPUs.
03:52 Still the number one company. All the AI companies and tech companies can't get enough of Nvidia GPUs. So, this is all this is all just like, you know, panic selling at this point, right? Uh maybe because people think that Jensen is going to thrown out so the company's not going to do as well. I don't know. But it seems like this is just more of okay, he did something bad, really bad stuff.
04:17 So then now we got to punish the stock. That's what it seems like. Uh Jason Calakanactis, I think that's how you say his name, said a better solution would be to remove him but make him the chairman, which I do agree with. Right. He he has all the knowledge. He's a workhorse. He's the only one that could really carry the company, but he made some bad mistakes.
04:41 So that that is all over the place. All over the place on X. There's so many memes, so many things coming out about this. A lot of people disappointed, but most people are just trolling at this point. So Nvidia probably tomorrow is going to be down huge, and that's not going to help the rest of the market, right? So right now it's down about 8% aftermarket.
05:10 Uh outside of this, this also happened. A lot of people expected this, but MCCI index membership decided to kick out strategy MetaPlanet. They have been signing this for years because they came out with a new rule saying that Bitcoin treasury companies or companies that's mostly uh driving their revenue from Bitcoin should not be in the index. I don't know why.
05:34 I don't know why they think it's a bad thing, but it's going to happen November 30th. Okay. Now, why should anyone care about this? Well, I looked it up on Ask Clash and they said that there are funds, there are a lot of funds that track the MCSI index. Okay. um they just follow it because I guess MC MSCI index is a list of good companies. So if they remove a company they are forced to to sell the shares of that company.
06:10 So if there are a lot of funds that hold strategy and meta planet they will be forced to sell. Okay. Um and that's why it's bad. That's why it's bad, right? And what does that have to do with Bitcoin? Well, a weaker Bitcoin funding engine. If the shares trade at a premium to the value of the underlying assets, issuing shares can help finance Bitcoin purchases.
06:35 If the selling pressure shrinks that premium, further issuance becomes less attractive, more dilutive. That could slow future Bitcoin buying. Right? So, for Bitcoin holders, the effect is indirect. The shareholders, it is more direct. So, that's the thing. A lot of people expected this. Uh was hoping it wouldn't happen, hoping that MC MCI would change their mind.
07:00 They didn't. So that's [snorts] that. But does anyone really care? I don't know. I don't know. Again, it's indirect relationship to Bitcoin and Bitcoin isn't falling because of this. I think Nvidia opening up in the red tomorrow will probably affect the tech market and Bitcoin more than this. But it is unfortunate and I still don't know why I still don't know why MSCI thinks that it's bad to have Bitcoin treasury companies, right?
07:31 Really no reason. They added strategy for a reason because they were doing well. It just seems like they're again kind of falling for a trap, falling for the FUD and and they decided that this was what they're going to do, which is unfortunate. All right, guys. That is pretty much it. I don't I don't really have anything else. I was debating if I should make this video, but everyone is concentrating on Jensen right now.
07:58 Uh, so I decided to make it. But outside of that, stay strong, guys. I will see you tomorrow bright and early, same time as usual, 8:30 a.m. Central Standard Time. All right, have a good one. Bye-bye.