Live updates: Bitcoin reverses early gains; Saylor’s Strategy moves toward daily dividends

“Strategy is proposing daily dividends on STRF, STRC, STRK, and STRD accruing every calendar day, including weekends and holidays, and paid the next business day, with economics unchanged,” wrote Michael Saylor Friday morning.

“The proposed changes aim to support price stability, liquidity, and demand.”

The proposal will be put to a shareholder vote, which concludes on Oct. 28. STRC daily dividends would begin on Nov 1, while the others would commence in January.

The much-smaller Strive’s ASST$30.06·Market Closed high-yielding preferred stock SATA moved to daily dividends several weeks ago.

Risk assets are higher ahead of Friday’s U.S. open. Bitcoin briefly touched $85,000, up more than 0.5% over the past 24 hours, before slipping back below that level. Gold has risen nearly 1% to above $4,300 an ounce, while Invesco QQQ is up almost 1% in premarket trading.

The dollar index has edged below 101, WTI crude has fallen to $92.50 a barrel, and the US 10-year Treasury yield is down 0.7% to 5.171%.

The Japanese yen rose as much as 0.6% to 158 per dollar, heading for its best day in more than two weeks, according to Bloomberg.

Finance Minister Satsuki Katayama said President Trump shared Japan’s concerns about yen weakness and pledged coordination with U.S. Treasury Secretary Scott Bessent. The yen has weakened by about 3.5% against the U.S. dollar since Sept. 8.

The two countries bought yen this summer to shore up the yen.

While, the renewed threat of intervention follows comments from Bessent, who said: “I have asymmetric information. I am the house now.”

Bitcoin traded just above $84,000 on Friday, flat over 24 hours after falling below that level on Wednesday, CoinDesk data show. Most major tokens moved less than 2%. Smaller names did the running, with ONDO up 27% to about 54 cents and Quant up 39% to nearly $100.

Bonds found a floor in Asia. The 10-year Treasury yield slipped two basis points to 5.17% after jumping more than 20 basis points over the previous two sessions, and Brent fell 1% to about $105 a barrel on reports that Washington and Tehran are exploring a phased deal to reopen the Strait of Hormuz.

FxPro chief market analyst Alex Kuptsikevich reads bitcoin’s drop as a stall short of the target technical traders had projected for the rally that began in mid-August.

“As with the overall market capitalisation, the leading cryptocurrency encountered resistance near a previously significant support level. However, BTC failed to complete the Fibonacci extension pattern to 161.8% of the impulse that began in mid-August in a single move. Despite the pullback, the ongoing, unfinished nature of the uptrend suggests it may be a temporary pause on the way up,” he said in a note.

“It is worth remembering that in 2021, Bitcoin lost over 50% from its peak before reaching new highs. Similarly, today, a decline to $70K may be painful for short-term speculators, but it does not undermine the bullish outlook,” he added.

Bitcoin heads into Friday’s Deribit expiry below $85,000, the strike carrying one of the largest blocks of call options.