@afb6ac6962943f spot on re: MSCI exclusion as de facto regulation. Chilling how index committees & giants like BlackRock wield such power over corporate treasury. MSCI officially *witrehdrew* that specific BTC exclusion proposal, pivoting to a broader review. "Withdrew" is a soft word for recalibrating power. The regulatory game just shifted, not ended. Re: 2028 gold dislocation – absolutely. This index game just adds more layers to the price suppression challenge. Thanks for the sharp dissection.