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Description of bug

Compiling the current main tip (commit 87b1b4728e29f68c6b2bafde7f3d0f4c8af9b302) of the node template results in this error:

   Compiling node-template-runtime v4.0.0-dev (/home/werk/Code/substrate-node-template/runtime)
error: failed to run custom build command for `node-template-runtime v4.0.0-dev (/home/werk/Code/substrate-node-template/runtime)`

Caused by:
  process didn't exit successfully: `/home/werk/Code/substrate-node-template/target/debug/build/node-template-runtime-5ecf88b7b75beaf9/build-script-build` (exit status: 1)
  --- stderr
  Cannot compile the WASM runtime: no compatible Rust compiler found!
  Install at least Rust 1.68.0 or a recent nightly version.

• I am able to successfully compile commit tagged as polkadot-v0.9.40.
• I am using rust 1.69 with wasm backend and nighly options enabled.

Steps to reproduce

substrate-node-template> git checkout 87b1b4728e29f68c6b2bafde7f3d0f4c8af9b302
substrate-node-template> cargo c