RT Steak 'n Shake (@SteaknShake)Eight months ago today, Steak n Shake launched its burger-to-Bitcoin transformation when we started accepting bitcoin payments. Our same-store sales have risen dramatically ever since.All Bitcoin sales go into our Strategic Bitcoin Reserve.Today we increased our Bitcoin exposure by $10,000,000 in notional value.We have created a self-sustaining system — growing same-store sales that grow the SBR. Improving food quality expands Steak n Shake's reach and leverages Bitcoin into ...

Core Viewpoint - U.S. agencies may not be adequately preserving Bitcoin as directed by a March executive order from President Trump, raising concerns from Senator Cynthia Lummis about the liquidation of these strategic assets while other nations accumulate Bitcoin [1][2]. Group 1: U.S. Government Actions - Senator Lummis criticized the U.S. government's ongoing liquidation of Bitcoin, questioning why assets are being sold when they should be preserved for a Strategic Bitcoin Reserve as per presidential directive [2]. - The U.S. Court for the Southern District of New York sold Bitcoin related to the Samourai wallet case, which Lummis highlighted as a misstep in asset management [2][5]. - The Marshals Service reportedly had permission to liquidate the Bitcoin, but they denied selling the assets in question, indicating a potential conflict with the executive order [6][7]. Group 2: Samourai Wallet Case - The Samourai wallet was a privacy-focused Bitcoin wallet that was shut down in 2024 following a federal investigation, leading to the conviction of its developers for operating without a license [3]. - Developers Keonne Rodriguez and William Lonergan Hill received prison sentences of five and four years, respectively, and paid a total of $6.4 million in forfeiture, likely in Bitcoin [4][5]. - The forfeited Bitcoin was reportedly sold by the Marshals Service, which may have violated the executive order directing the preservation of digital assets from forfeitures [5].

Core Insights - The potential return of Venezuelan opposition leader María Corina Machado could influence the future of Bitcoin in Venezuela, especially following Nicolás Maduro's ouster [1] Cryptocurrency Adoption in Venezuela - Venezuela has a significant history of cryptocurrency usage, driven by hyperinflation and the need for monetary stability among citizens, as well as the government's reliance on Tether and Bitcoin to circumvent sanctions [3] - The country recorded nearly $45 billion in cryptocurrency transaction volumes from July 2024 to June 2025, surpassing nations like Japan and Argentina in the 2025 Global Crypto Adoption Index by Chainalysis [4] Bitcoin Holdings and Speculations - Reports suggest Venezuela may possess a substantial Bitcoin reserve, with estimates ranging from $22 million for 240 BTC to as much as $60 billion according to Project Brazen [5] - Speculation exists that the U.S. could potentially seize Venezuela's Bitcoin reserves, which could positively impact the market, although the legality of such actions is uncertain [6] Political Landscape - The current political situation in Venezuela, with Maduro's deputy Delcy Eloína Rodríguez still in power, raises questions about Machado's ability to assume leadership in the near future [7] - Betting markets indicate low confidence in the U.S. recognizing Machado as Venezuela's leader, despite her commitment to return to the country [9]

Core Viewpoint - The U.S. government is reportedly selling Bitcoin, raising concerns about the contradiction with a directive to preserve these assets for a Strategic Bitcoin Reserve [1][2][3]. Group 1: Government Actions - Senator Cynthia Lummis expressed concern over the Department of Justice's sale of Bitcoin seized from Samourai Wallet developers, questioning the rationale behind this action despite a presidential directive [2][3]. - The U.S. Marshall Service may have sold approximately $6.3 million in Bitcoin forfeited from the Samourai co-founders [3][4]. Group 2: Strategic Bitcoin Reserve - The U.S. government currently holds 328,372 BTC, valued at over $30 billion, as part of a National Bitcoin Reserve established by a previous executive order [5]. - The executive order includes provisions for developing budget-neutral strategies to acquire additional Bitcoin [5].

Core Viewpoint - Bitcoin is currently facing challenges, down over 7% for the year, trading at $87,000, but is predicted to rise by 75% to $150,000 by 2026 [1] Historical Performance - A 75% gain is not unprecedented for Bitcoin, which has historically shown strong performance, including a 36% gain in its worst bull market year (2015) and triple-digit percentage returns in seven years since 2012 [2] Future Predictions - The year 2026 may mirror 2019, when Bitcoin surged by 95% following a significant drop in 2018, driven by global economic uncertainty and increased institutional investor interest [3] Institutional Investment - Institutional investors are increasing their Bitcoin exposure through new spot Bitcoin ETFs, while global economic uncertainty, particularly regarding tariffs and U.S. macroeconomic conditions, is a prevailing concern for investors [4] Bitcoin vs. Gold - For Bitcoin to regain traction as "digital gold," investor confidence in this narrative must be restored, as Bitcoin is currently down 7% while gold has increased by 73% [5][6] Price Recovery Potential - Despite dropping below $100,000, Bitcoin has the potential to rebound and reach $150,000 in 2026, with historical trends suggesting a recovery from down years [7] Market Dynamics - Bitcoin was once expected to follow the "debasement trade" trend, moving alongside precious metals like gold, but this correlation has not materialized in the current market [8]

Cryptocurrency Adoption - Texas became the first state in America to purchase Bitcoin for its Strategic Bitcoin Reserve [1]

RT Bitcoin Magazine (@BitcoinMagazine)JUST IN: 🇺🇸 Congressman Warren Davidson says the US can fund the Strategic Bitcoin Reserve by accepting tax payments in BTC 👀https://t.co/4qu58908cZ ...

Government & Policy - Congressman Warren Davidson suggests the US can fund the Strategic Bitcoin Reserve by accepting tax payments in BTC [1]

Core Insights - The "strategic national digital assets stockpile" established by the Trump administration is likely facing unrealized losses due to lack of transparency and accountability [1][2] - The U.S. government has not provided a full accounting of its cryptocurrency holdings, which include the Strategic Bitcoin Reserve and the Digital Asset Stockpile [2][3] - The estimated value of U.S. cryptocurrency holdings is approximately $27 billion, but the exact amount of Bitcoin held is disputed among data providers [3][4] Cryptocurrency Holdings - The U.S. government reportedly holds between 325,000 and 326,000 Bitcoin according to some sources, while others estimate it at only 198,012 Bitcoin [4] - Most tokens in these reserves are acquired through criminal seizures, civil forfeitures, and major bankruptcy liquidations [2] Performance of Digital Assets - The median return for a basket of altcoins, including Ethereum, XRP, Solana, and Cardano, since April 5 is –4.5% [5] - When considering a broader list of assets under U.S. custody, excluding stablecoins and Bitcoin, the median return drops to –10%, heavily influenced by poor performance of metaverse and AI-focused tokens [6] Transparency Issues - There is a significant transparency gap regarding the Digital Asset Stockpile, which lacks public disclosures, an official registry, and a reporting portal for taxpayers [9] - Despite the focus on the Strategic Bitcoin Reserve, only Bitcoin has entered the federal reserve program, raising questions about the management of other digital assets [7]

Core Insights - The unexpected visit of Treasury Secretary Scott Bessent at the opening of Pubkey DC is viewed as a significant moment for Bitcoin's political and cultural recognition [3][9] - Bessent is recognized as a pro-crypto official, having supported various crypto-friendly initiatives and legislation [4][5] - The Bitcoin community's reaction highlights a mix of optimism and caution regarding the implications of Bessent's appearance in a volatile market [6][9] Group 1: Bessent's Influence - Bessent's presence at the Pubkey DC launch is interpreted as a pivotal sign of institutional acceptance for Bitcoin [3][4] - His nomination and subsequent support for crypto innovation have been positively received within the digital asset sector [4][5] - The visit is seen as a potential turning point for Bitcoin's visibility and acceptance in mainstream finance [9] Group 2: Market Context - Bitcoin's price has been experiencing a downturn, recently dropping to $85,000 from an all-time high of $125,100 on October 5 [8] - The timing of Bessent's visit amidst this market volatility adds complexity to the interpretation of its significance [8][9] - Some traders express caution, suggesting that the impact of such symbolic moments may not be fully realized until later [6]