Cook bacon, preferably in a cast-iron pan on the stovetop, until crisp. Drain on paper towels. Reserve 2 tablespoons of bacon fat and allow to cool to room temperature
Cream butter in stand mixer (or food processor). Add reserved bacon fat and mix well on medium. Crumble in cooked bacon and mix on low.
Use spatula to spoon bacon butter into a small bowl. Cover and chill in refrigerator for at least 30 minutes.
Grilled Strip Steaks
Remove steaks from fridge (preferably before starting bacon). Season well with salt, pepper, and garlic powder. Allow to come to room temperature for 20-30 minutes.
Heat grill or grill pan to medium-high heat. Oil grill to prevent sticking.
Sear steaks for 1-2 minutes on each side over medium-high. Turn heat down to medium. Turn steaks 1/4 turn after first flip to produce cross-hatch markings. Cook for a total of 4-6 minutes per side, or until internal temperature reaches 130 degrees.
Top each steak with 1 tablespoon of bacon butter prior to last flip. Allow to melt and turn steaks over. Top each with an additional tablespoon of butter and remove when they reach temperature.