It's Wednesday, October 30th, and this is Markets Daily hosted by me, Jen Sanassi.

On this show, we navigate the currents shaping the crypto market.

So whether you're actively investing or just watching the volatility that is the crypto markets,

this show is your compass to where we were, where we are, and where we are going.

Good day, everybody.

We are talking all about Bitcoin today.

It has been in the headlines lately as the largest cryptocurrency by market cap came very, very close to its all-time

high. Bitcoin passed $73,000 on Tuesday, meaning that 99.7% of the circulating supply was

in profit. That said, investors have been taking profit, as you should. And analysts are closely watching some

big bags to determine what could happen next. The government of Bhutan has $900 million

worth of Bitcoin and recently moved a chunk of it to an exchange signaling that they too

might be looking to capitalize on the high prices. This move could weigh on the market.

As market watchers, we are watching a lot heading into November, including what whales like the

government of Bhutan are doing and the upcoming U.S. election, which is just days away.

Now, I think the narrative around price action has been covered pretty extensively in the news.

So on today's show, we're going to do something a little bit different and we're going to take

a look at the tech because as an investor, you should understand the developments that are

taking place on the Bitcoin blockchain and the value that that brings to the asset.

Here's CoinDesk's tech and protocols editor Brad Cowan in conversation with Stack CEO,

Mani Bali, unpacking Stax's recent Nakamoto upgrade. All right, well, we're here with

Muni Bali, the co-founder of Stacks and the leader of the super interesting Bitcoin Layer 2 project, one of the original Bitcoin

Layer 2 projects.

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