Preheat the oven to 375°F.
Mix the garlic powder, onion powder, salt, and pepper in a small bowl. In a separate bowl, mix the balsamic vinegar, honey, and brown sugar together.
Trim the pork tenderloin of excess fat and silverskin, pat it dry with paper towels, then rub it all over with the spice mix. Fold the thinner end of the tenderloin under to create the same thickness all the way across to make sure the pork cooks evenly.
On a cutting board, lay the bacon strips so they are slightly overlapping each other then set aside.
Heat the olive oil in a cast iron pan or an oven safe skillet over medium-high heat. Place the tenderloin into the hot pan and sear on all sides until golden brown, about 1 1/2 minutes per side.
Remove the seared tenderloin from the pan then place it at one edge of the bacon, making sure that the tenderloin runs perpendicular to the bacon slices. Lift up the edges of the bacon and roll the tenderloin to wrap the bacon around the tenderloin (it helps to use a long knife to lift up all of the edges of the bacon slices initially). Finish with the bacon seam on the bottom.
Place the bacon-wrapped tenderloin back into the cast iron pan, seam side down, pour the glaze on top, then brush it all over.
Insert an oven-safe leave-in meat thermometer into the thickest part of the tenderloin, and bake in the preheated oven for 20 minutes. Carefully remove the tenderloin from the oven and brush with the glaze in the pan again.
Turn the heat up to 400°F and roast for 7 more minutes. Then turn the broil on, and broil for about 3 minutes, or until bacon becomes crispy and the internal temperature reaches 145°F.
Remove from the oven and let the tenderloin rest for 10 minutes before slicing. This helps the juices redistribute.
Slice and serve.