MSCI quietly triggered a structural panic

On the same evening the crash began, MSCI released a consultation note almost nobody in crypto saw.
Their proposal:
 If a company holds 50%+ of its assets in Bitcoin/digital assets AND behaves like a digital-asset treasury…
 it can be excluded from MSCI global indexes.
Translation?
MicroStrategy and other BTC-heavy companies were suddenly at risk.

Why this is a big deal
If MSCI excludes them:
• Index funds must sell — instantly
 No debating. No picking. Pure forced liquidation.
• MicroStrategy becomes a target
 If $MSTR is treated as "fund-like," indexed funds would be required to reduce or exit.
• And when MSTR sells → Bitcoin feels it immediately
 Weakness in MSTR = lower confidence = higher BTC correlation = more retail panic = liquidation wave.