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Preheat the oven to 450 degrees F.
Generously salt and pepper both sides of the steak. Wrap the steak with the bacon and secure with a toothpick.
Heat an ovenproof skillet over medium-high heat. Add the butter and olive oil. When melted, add the steak to the skillet and sear on both sides until a really nice color, about 1 minute per side.
Remove the skillet from the stovetop and place into the oven to finish cooking. Cook until medium rare, 7 to 10 minutes. Remove from the oven and allow to rest for 5 minutes before serving.