Today in crypto, Steak ‘n Shake announces expansion into El Salvador, Robert Kiyosaki argues a global cash shortage is driving the market crash and says he’s holding Bitcoin and gold, and crypto executive Jeff Park voiced support for the CFTC taking the lead on crypto regulation.
Steak ‘n Shake announces expansion into El Salvador
American fast food chain company Steak ‘n Shake announced it is expanding to El Salvador In an announcement made on Saturday.
Steak ‘n Shake first began accepting BTC as a form of payment at its restaurant locations in May. The announcement was made in the Saturday edition of X. post El Salvador Bitcoin Office has amplified this.
“El Salvador is a great country. We were honored to be in Bitcoin country, serving beef tallow fries and handing out grass-fed and Wagyu beef tallow cooking oil. The beginning of a beautiful friendship.”
Following its decision, the company is now a household name in the Bitcoin world. This shows the rapid adoption of BTC for payment by businesses around the globe.
Robert Kiyosaki believes cash crunch will drive crash and remains bullish about Bitcoin, gold
Robert Kiyosaki has said to his 2.8 millions followers that he is the author of Rich Dad Poor Dad. is not selling his Bitcoin or gold The sharp drop in sales is not the only reason for concern.
“The everything bubbles are bursting,” he said in a Saturday post, adding that the real reason markets are falling is a global cash shortage. “The cause of all markets crashing is the world is in need of cash,” He also added.
Kiyosaki stated that he expected what he called “The Big Print,” Citing Lawrence Lepard’s thesis, governments would resort to mass money creation in order to pay off mounting debt.
“The Bug Print is about to begin… which will make gold, silver, Bitcoin, and Ethereum more valuable… as fake money crashes,” He said. He said that people who need money should consider selling certain assets. According to him, panic comes more from a desire for liquidity than a conviction.
Crypto oversight by CFTC over SEC is ‘directionally correct’ — Jeff Park
There are still some difficulties around the recently proposed Jeff Park, chief investment officer at ProCap BTC, says that a picture is beginning to emerge regarding the oversight of the crypto markets.
“The CFTC will own a larger domain over crypto than the SEC,” Park said Anthony Pompliano, a crypto-entrepreneur and YouTuber who published an interview on Friday. “lots of complexity with different stakeholders.”
“I think that is directionally correct in my opinion,” He said. “The CFTC is in the business of financial innovation at large, and it is in the business of managing capital efficiency, and leverage and derivatives products,” He said that this aligns with the work being done by the crypto-industry, which is to create a new layer of settlement that will bring capital efficiency in different speed levels.
Park added that the treatment of crypto like a commodity was consistent with the fact that the cryptocurrency market is international.
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Source: cointelegraph.com
