Welcome to This Week in Crypto, where we round up the biggest stories shaping the digital asset world. From fast food chains to corporate treasury moves and a major crypto milestone, here’s what’s been making headlines this week:
Here’s a quick look at what’s new:
- Bitcoin white paper turns 17: October 31st marked 17 years since Satoshi Nakamoto first shared the Bitcoin white paper, laying the foundation for today’s decentralized digital currency ecosystem.
- Steak n Shake creates Bitcoin treasury: The 91-year-old fast food chain announced it will hold all BTC payments in a Strategic Bitcoin Reserve and donate a portion to open-source development.
- Strategy buys $45M in Bitcoin: The company behind the largest public BTC holdings kicked off November with a 397 BTC purchase, bringing its total to more than 641,000 Bitcoin.
Let’s take a closer look at what it all means for the crypto space this week!
Bitcoin White Paper Turns 17, Marking a Key Moment in Crypto History
Seventeen years ago, Bitcoin’s creator Satoshi Nakamoto published the white paper that introduced the world to decentralized digital currency. The paper, shared on October 31, 2008, outlined a system for peer-to-peer transactions without the need for banks or middlemen. Today, that document is seen as the starting point for Bitcoin’s rise into one of the most recognized and widely discussed digital assets in the world.
- The white paper was titled Bitcoin: A Peer-to-Peer Electronic Cash System and introduced the concept of proof-of-work to prevent double spending.
- Just three months after the paper was released, Bitcoin’s first block was mined, beginning the network with a 50 BTC reward.
- Over the years, Bitcoin has gained attention from institutions, governments, and millions of users worldwide, growing into a multi-trillion-dollar asset.
As Bitcoin’s original white paper turns 17, it continues to be a reference point for innovation in digital payments and decentralized systems. Its release remains one of the most important moments in the history of cryptocurrency.
Steak n Shake Launches Bitcoin Reserve Program
Steak n Shake has become the first major U.S. fast-food chain to create a Strategic Bitcoin Reserve. The company announced that all Bitcoin payments from customers will now be added to its corporate treasury. The move follows earlier efforts by the chain to accept BTC at hundreds of stores across the U.S. and Europe.
- Bitcoin payments made at Steak n Shake are now held on the company’s balance sheet.
- The chain is also donating 210 satoshis from each Bitcoin transaction to support open-source Bitcoin development.
- A partnership with Fold App gives customers $5 in Bitcoin when they pay with BTC and follow simple signup steps.
Steak n Shake says its goal is to support both financial technology and the broader Bitcoin community. By accepting and holding Bitcoin, the company is taking a practical approach to integrating crypto into its business model.
Strategy Kicks Off November with $45M Bitcoin Purchase
Business intelligence firm Strategy has added 397 more Bitcoin to its holdings, continuing its position as one of the largest corporate holders of BTC. The purchase, valued at $45.6 million, was disclosed in a filing with the U.S. Securities and Exchange Commission. Although Strategy continues to buy Bitcoin, its acquisition pace has slowed since earlier this year.
- Strategy now holds a total of 641,205 BTC, purchased for a combined $47.49 billion.
- The company acquired 778 BTC in October, a noticeable drop from 3,526 BTC bought in September.
- Some analysts have noted that institutional demand, including from Strategy, plays a large role in overall market activity.
While acquisition rates may vary month to month, Strategy remains one of the most closely watched companies in the Bitcoin space. Its purchases are often seen as a signal of continued corporate interest in digital assets.
