Today in Crypto, Steak ‘n Shake announced expansion in El Salvador, Robert Kiyosaki argued a global cash shortage is driving the market crash and said he holds Bitcoin and gold, and CEO Jeff Park expressed support for the CFTC to take the lead in crypto regulation.
Steak ‘n Shake announces expansion into El Salvador
The American Fast Food Chain Company Steak ‘n Shake has announced that it is Expansion to El Salvador In an announcement on Saturday.
Steak ‘n Shake first began accepting BTC as a form of payment at its restaurant locations in May. The company announced on a Saturday x Post That was reinforced by El Salvador’s Bitcoin office:
“El Salvador is a great country. We are honored to be in the country of Bitcoin, serving beef tall fries and providing grass and wagyu beef tall cooking oil. The beginning of a beautiful friendship.”
The company became iconic in the Bitcoin community following the decision to accept BTC, which demonstrated the growing adoption of BTC as a payment method by merchants around the world.
Robert Kiyosaki says Cash Crunch Driving Crash, remain bullish on bitcoin, gold
Robert Kiyosaki, author of Rich Dad Poor Dad, told his 2.8 million followers on X that he is not selling his bitcoin or gold Despite sharp denials.
“All the bubbles have burst,” he said in a post on Saturday, adding that the real reason markets are falling is a global cash shortage. “The cause of all the market crashes is that the world needs cash,” he added.
Kiyosaki said he expects what he calls “The Big Print,” citing Lawrence Lepard’s thesis that governments will engage in massive money creation to cover ever-increasing debt loads.
“Bug printing is about to begin … which will make gold, silver, bitcoin, and Ethereum … more valuable as fake crash currencies,” he said. He advised those in need of cash to consider selling some assets, claiming most of the panic stems from liquidity needs rather than persuasion.
CFTC Over Sec’s Crypto Oversight is ‘in the right direction’ – Jeff Park
Despite some complexity around the recently proposed The Crypto Market Structure Bill, a clearer picture is starting to emerge regarding the governance of the crypto market, according to Procap BTC Chief Investment Officer Jeff Park.
“The CFTC will own a larger domain over crypto than the SEC,” Park said said In an interview with crypto entrepreneur Anthony Pompliano published on YouTube on Friday, while emphasizing that there is still “a lot of complexity among different stakeholders.”
“I think the direction is right in my opinion,” he said. “The CFTC is in the business of financial innovation, and it’s in the business of managing capital efficiency, and action products and derivatives,” he said, explaining that in line with what the crypto industry is building, a new layer of regulation that brings capital efficiency to different speeds.
Park also said that treating crypto as a commodity is in line with the international nature of the market.
