MicroStrategy risks removal from global index funds, potentially triggering an $8.8 billion outflow and putting pressure on Bitcoin's price. The core of the DAT model involves deeply binding traditional corporate interests with the Bitcoin ecosystem, not merely borrowing money to buy BTC. Bitcoin treasury companies are actively building within the Bitcoin ecosystem (e.g., Layer2, BTCFi), which is a key path to rebuilding market value premiums. Ecosystem development can break the pure reliance...