The Daily: Microsoft set to vote on bitcoin investing, MicroStrategy ‘highly unlikely’ to be forced to sell its holdings and more
2024-10-26

It's Friday! In today's Daily, Microsoft shareholders are set to vote on a bitcoin investing proposal, MicroStrategy is "highly unlikely" to be forced to sell its bitcoin, demand for bitcoin call options surges for the first expiry after the U.S. election and more.
Meanwhile, Polymarket claims there's no evidence of market manipulation in U.S. election bets despite slippage issues on the decentralized predictions platform.
Let's get started.
Microsoft's bitcoin investing vote
Tech giant Microsoft, with a market cap of over $3 trillion, is apparently considering investing in bitcoin, according to a Securities and Exchange Commission filing on Thursday.
MicroStrategy 'highly unlikely' to be forced to sell bitcoin as stock reaches 25-year high
Analysts at BitMEX Research argued it's "highly unlikely" that MicroStrategy will be forced to sell its bitcoin holdings due to its current debt structure, though "anything is possible."
Bitcoin call options see surge in demand for first expiry after US election
Deribit CEO Luuk Strijers noted that bitcoin call options are double the number of put options set for the Nov. 8 expiry, signaling bullish sentiment for the days immediately following the U.S. election.
JPMorgan says tokenized Treasuries to challenge but not fully replace stablecoins
The $2.4 billion tokenized U.S. Treasuries niche is growing as an alternative to the $180 billion stablecoin market but is not expected to fully replace them due to regulatory and liquidity constraints, according to JPMorgan analysts.
Farcaster's monthly revenue drops 96% compared to peak
Decentralized social media protocol Farcaster's monthly revenue has fallen dramatically from its February peak, down 96% from $415,900 to only $15,825 so far in October, according to Dune Analytics data.
Looking ahead to next week
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