Galaxy Digital (GLXY) Debuts on the Nasdaq, But Crypto Twitter Is Buzzing About Steak n' Shake Accepting Bitcoin

Crypto X — still widely known as Crypto Twitter (CT) despite the platform's name change — was abuzz with users sharing news of fast food company Steak n' Shake starting to accept bitcoin BTC$ payments over the Lightning network

Galaxy Digital (GLXY) has begun trading on Nasdaq Global Select Market, but it seems the financial services company's listing will be battling for the attention of the crypto sphere's collective mind with news of fast food company Steak n' Shake beginning to accept bitcoin (BTC) payments.

Crypto X - still widely known as Crypto Twitter (CT) despite the platform's name change - was buzzing with users sharing news of the company starting to accept bitcoin payments via the Lightning network, after announcing its plans last week.

One user posted a video of a customer completing an order on a self-service machine, selecting the "Pay With Bitcoin" option and scanning the QR code with their Lightning wallet in the Zeus app. Another user then shared a post from the company confirming that it had begun accepting bitcoin.

"Steak n' Shake now accepts Bitcoin on their self-serve kiosks. A customer is using the Zeus app to scan the QR code and pay with Lightning," the post said.

Another company that went heavily into bitcoin is luxury watch wholesaler Top Win International (TOPW), which said it will change its name to AsiaStrategy and manage its treasury in digital assets, effectively following the model of Michael Saylor's software company Strategy (MSTR), which now holds 568,840 BTC, more than 2.5% of all the bitcoin that will ever exist.

Hong Kong-based Top Win is partnering with crypto-backed venture capital firm Sora for its new pivot. Shares of the company rose as much as 45% before losing the gains to trade down 31% at $5.14.

Sora previously worked with Tokyo-based Metaplanet (3350), another company copying the Strategy model.

Galaxy's Nasdaq Debut

Galaxy, the Toronto-based crypto-focused financial services firm led by Mike Novogratz, has commenced trading on Nasdaq Global Select Market.

Novogratz, who described the listing as a "pivotal moment" for Galaxy in a letter shared via email, rang the opening bell on the Nasdaq floor on Friday.

Galaxy announced its plans at the end of last month, in which it also said GLXY would remain listed on the Toronto Stock Exchange (TSX) "for a period of time following [its] intended listing on Nasdaq."

GLXY shares traded at around $22.61 in early trading, 3.2% higher on the day. The Toronto-traded shares rose 2.98% to C$31.48.