MSCI adopted its non-operating company rule on October 15, and the companion spreadsheet of potentially impacted securities lists Strategy with a potential action of "Deleted" — roughly $40.3B of the $44.4B of float-adjusted market cap on that entire list. The affected names publish November 11 and the change takes effect at the close on November 30, leaving 19 days between the list and any forced selling. MSTR dropped 9.56% in a single session after the decision. Tonight, Joey and Len walk through the 4-of-5 ratio test, whether Strategy actually trips it, and what index removal does and does not do to the Bitcoin sitting behind the stock. MSCI's announcement names no company, and Strategy says MSCI-linked funds hold only 3.1% of its basic shares.

Also on the show: Metaplanet swapping Bitcoin-backed loans for ¥52B of convertibles while restarting a buyback with the stock near 90% off its peak, Strategy buying 250 BTC and spending another $192M on its own preferred, K33's estimate that the STRC machine has left Strategy about 4,947 BTC behind where it would otherwise be, and Bitcoin trading near $80,000 on hot inflation prints. Plus the week's Canadian headlines: a record $17.5B of federal debt dumped by non-residents in August, 82 charges in the Toronto abduction case involving Armed Forces reservists, Macklem signalling a higher inflation forecast on October 28, and Alberta's vote today on starting the process toward a separation referendum.

If the index funds sell the stock and not the coins, does any of this change the Bitcoin thesis for you?

Canadian Bitcoiners Podcast

Website: https://canadianbitcoiners.com

Subscribe and turn on notifications — new episodes live Monday nights.

READ MORE

MSCI's announcement: https://app2.msci.com/webapp/index_ann/DocGet?pub_key=aq0wbkjxPgo=&lang=en&format=html

The finalized rules: https://www.theblock.co/news/business/2026-10-15-msci-rules-could-exclude-strategy-mstr-from-indexes-418729

Who could be ejected: https://www.coindesk.com/markets/2026/10/16/msci-approves-rules-that-could-eject-strategy-metaplanet-from-equity-indexes

Strategy's exposure: https://decrypt.co/381168/bitcoin-treasury-giant-strategy-faces-index-removal-under-finalized-msci-rules

Saylor's response: https://protos.com/strategy-dips-on-bad-msci-world-index-news/

————————————————————————————————

SPONSORS

🔒 easyDNS — Canadian-owned domains, DNS, email and hosting from an ICANN-accredited company that has accepted Bitcoin since 2013. Use promo code CBPMEDIA for 50% off your first purchase.

https://easydns.com

⚡ Bull Bitcoin — Canada's non-custodial, Bitcoin-only exchange. CBP listeners get 25% off fees for life.

https://app.bullbitcoin.com/registration/cbp

🔥 256 Heat — Purpose-built Bitcoin miners that heat your space while producing hashrate. Tell them CBP sent you for a discount.

https://256heat.com

🎓 Bitcoin Mentor — One-on-one help with wallets, keys, self-custody, inheritance planning and nodes. Every package includes a 30-day money-back guarantee.

https://btcmentor.io/aff/joey

————————————————————————————————

FOLLOW THE SHOW

🎙️ CBP: https://x.com/CanadianBTCPod

👤 Joey: https://x.com/joeytweeets

👤 Len: https://x.com/thebtcpricebot

📸 Instagram: https://www.instagram.com/canadianbtcpod/

💬 Discord: https://discord.gg/YgPJVbGCZX

LISTEN

Spotify: https://open.spotify.com/show/6WzoIyTowK47rcAmvrS7gt

Apple Podcasts: https://podcasts.apple.com/ca/podcast/the-canadian-bitcoiners-podcast-bitcoin-news-with/id1561002990

RSS: https://anchor.fm/s/538d43f4/podcast/rss

⚠️ Everything in this episode reflects personal opinions only and should not be considered financial advice.

#Bitcoin #BitcoinNews #CanadianBitcoiners

MSCI adopted its non-operating company rule on October 15, and the companion spreadsheet of potentially impacted securities lists Strategy with a potential action of "Deleted" — roughly $40.3B of the $44.4B of float-adjusted market cap on that entire list. The affected names publish November 11 and the change takes effect at the close on November 30, leaving 19 days between the list and any forced selling. MSTR dropped 9.56% in a single session after the decision. Tonight, Joey and Len walk through the 4-of-5 ratio test, whether Strategy actually trips it, and what index removal does and does not do to the Bitcoin sitting behind the stock. MSCI's announcement names no company, and Strategy says MSCI-linked funds hold only 3.1% of its basic shares.

Also on the show: Metaplanet swapping Bitcoin-backed loans for ¥52B of convertibles while restarting a buyback with the stock near 90% off its peak, Strategy buying 250 BTC and spending another $192M on its own preferred, K33's estimate that the STRC machine has left Strategy about 4,947 BTC behind where it would otherwise be, and Bitcoin trading near $80,000 on hot inflation prints. Plus the week's Canadian headlines: a record $17.5B of federal debt dumped by non-residents in August, 82 charges in the Toronto abduction case involving Armed Forces reservists, Macklem signalling a higher inflation forecast on October 28, and Alberta's vote today on starting the process toward a separation referendum.

If the index funds sell the stock and not the coins, does any of this change the Bitcoin thesis for you?

Canadian Bitcoiners Podcast

Website: https://canadianbitcoiners.com

Subscribe and turn on notifications — new episodes live Monday nights.

READ MORE

MSCI's announcement: https://app2.msci.com/webapp/index_ann/DocGet?pub_key=aq0wbkjxPgo=&lang=en&format=html

The finalized rules: https://www.theblock.co/news/business/2026-10-15-msci-rules-could-exclude-strategy-mstr-from-indexes-418729

Who could be ejected: https://www.coindesk.com/markets/2026/10/16/msci-approves-rules-that-could-eject-strategy-metaplanet-from-equity-indexes

Strategy's exposure: https://decrypt.co/381168/bitcoin-treasury-giant-strategy-faces-index-removal-under-finalized-msci-rules

Saylor's response: https://protos.com/strategy-dips-on-bad-msci-world-index-news/

————————————————————————————————

SPONSORS

🔒 easyDNS — Canadian-owned domains, DNS, email and hosting from an ICANN-accredited company that has accepted Bitcoin since 2013. Use promo code CBPMEDIA for 50% off your first purchase.

https://easydns.com

⚡ Bull Bitcoin — Canada's non-custodial, Bitcoin-only exchange. CBP listeners get 25% off fees for life.

https://app.bullbitcoin.com/registration/cbp

🔥 256 Heat — Purpose-built Bitcoin miners that heat your space while producing hashrate. Tell them CBP sent you for a discount.

https://256heat.com

🎓 Bitcoin Mentor — One-on-one help with wallets, keys, self-custody, inheritance planning and nodes. Every package includes a 30-day money-back guarantee.

https://btcmentor.io/aff/joey

————————————————————————————————

FOLLOW THE SHOW

🎙️ CBP: https://x.com/CanadianBTCPod

👤 Joey: https://x.com/joeytweeets

👤 Len: https://x.com/thebtcpricebot

📸 Instagram: https://www.instagram.com/canadianbtcpod/

💬 Discord: https://discord.gg/YgPJVbGCZX

LISTEN

Spotify: https://open.spotify.com/show/6WzoIyTowK47rcAmvrS7gt

Apple Podcasts: https://podcasts.apple.com/ca/podcast/the-canadian-bitcoiners-podcast-bitcoin-news-with/id1561002990

RSS: https://anchor.fm/s/538d43f4/podcast/rss

⚠️ Everything in this episode reflects personal opinions only and should not be considered financial advice.

#Bitcoin #BitcoinNews #CanadianBitcoiners

Ledger has confirmed an unauthorized hardware implant in an affected device sold through CryptoBilis, a reseller listed by Ledger. How can a hardware wallet pass a Genuine Check while a physical implant spies on its setup? Tonight, Joey and Len examine the reported supply-chain attack, the limits of device verification, and what this does to trust in self-custody. Loss totals remain third-party estimates; the confirmed implant does not establish that every Ledger device is compromised.

Also on the show: Metaplanet’s Bitcoin sell-and-rebuy, the movement of seized Bitfinex coins, Coldcard’s phishing warning, and the week’s Canadian headlines, including public-sector job losses and Ontario’s retroactive OHIP rule change.

What would it take for you to trust a hardware wallet’s supply chain?

Canadian Bitcoiners Podcast

Website: https://canadianbitcoiners.com

Subscribe and turn on notifications — new episodes live Monday nights.

READ MORE

Ledger’s update: https://x.com/Ledger/status/2109331538072494364

Hardware implant confirmation: https://cointelegraph.com/news/ledger-confirms-unauthorized-hardware-implant-losses-may-exceed-86m

On-chain investigation: https://www.bitquery.io/investigations/ledger-cryptobilis-hack

Genuine Check limits: https://www.ledger.com/academy/topics/ledgersolutions/best-practices-to-securely-buy-ledger-signer

Hardware implant research: https://grandideastudio.com/portfolio/security/ledger-hardware-implant/

————————————————————————————————

SPONSORS

🔒 easyDNS — Canadian-owned domains, DNS, email and hosting from an ICANN-accredited company that has accepted Bitcoin since 2013. Use promo code CBPMEDIA for 50% off your first purchase.

https://easydns.com

⚡ Bull Bitcoin — Canada's non-custodial, Bitcoin-only exchange. CBP listeners get 25% off fees for life.

https://app.bullbitcoin.com/registration/cbp

🔥 256 Heat — Purpose-built Bitcoin miners that heat your space while producing hashrate. Tell them CBP sent you for a discount.

https://256heat.com

🎓 Bitcoin Mentor — One-on-one help with wallets, keys, self-custody, inheritance planning and nodes. Every package includes a 30-day money-back guarantee.

https://btcmentor.io/aff/joey

————————————————————————————————

FOLLOW THE SHOW

🎙️ CBP: https://x.com/CanadianBTCPod

👤 Joey: https://x.com/joeytweeets

👤 Len: https://x.com/thebtcpricebot

📸 Instagram: https://www.instagram.com/canadianbtcpod/

💬 Discord: https://discord.gg/YgPJVbGCZX

LISTEN

Spotify: https://open.spotify.com/show/6WzoIyTowK47rcAmvrS7gt

Apple Podcasts: https://podcasts.apple.com/ca/podcast/the-canadian-bitcoiners-podcast-bitcoin-news-with/id1561002990

RSS: https://anchor.fm/s/538d43f4/podcast/rss

⚠️ Everything in this episode reflects personal opinions only and should not be considered financial advice.

#Bitcoin #BitcoinNews #CanadianBitcoiners