Steak ‘n Shake Grows With Bitcoin Treasury Initiative
The 90-year-old restaurant chain will hold all BTC payments in a dedicated reserve and donate 210 satoshis per Bitcoin-themed meal to open-source developers.
Fast-Food Brand Turns Toward Bitcoin
American diner chain Steak ‘n Shake has officially joined the ranks of U.S. retailers integrating Bitcoin into both their payment systems and corporate strategy. The company announced on October 31 that it had launched a Bitcoin treasury, committing to store all BTC payments received across its restaurants in a long-term reserve rather than converting them to cash.
The move, revealed via the company’s official X account, was met with enthusiastic support from the Bitcoin community. Many hailed it as a sign of the growing intersection between crypto payments and mainstream consumer culture.
210 Satoshis per Meal: Supporting Bitcoin Development
In addition to its new treasury strategy, Steak ‘n Shake introduced a charitable initiative linked to its “Bitcoin Meal” promotion. For every such meal sold, the company will donate 210 satoshis (roughly $0.23) to OpenSats, a nonprofit organization funding developers who contribute to Bitcoin Core and other open-source Bitcoin projects.
This gesture aligns the restaurant’s Bitcoin integration not only with financial innovation but also with the ecosystem’s technical sustainability — a balance rarely seen in traditional corporate adoption.
Bitcoin Payments Drive Growth
Since the chain began accepting Bitcoin in May 2025, the payment option appears to have had a measurable business impact. Steak ‘n Shake reported $69.3 million in revenue for Q2 2025, up 12% year-over-year, crediting Bitcoin users for contributing to a 10.7% quarter-over-quarter rise in same-store sales.
That growth continued into Q3, where same-store performance increased another 15%, underscoring what the company described as “steady engagement” from customers paying with BTC. Although Bitcoin users still make up a minority of its total customer base, the trend suggests a loyal and expanding segment.
The company also highlighted a major operational benefit: Bitcoin transactions have reduced payment processing costs by about 50% compared to traditional credit card fees — a critical saving for any high-volume food business.
Partnership With Fold Brings Bitcoin Rewards
To further attract Bitcoin users, Steak ‘n Shake has teamed up with Fold, a Bitcoin rewards platform. As part of the collaboration, customers who purchase a “Bitcoin Meal” or “Bitcoin Steakburger” will receive $5 in Bitcoin, redeemable through the Fold app.
“Bitcoin goes mainstream when it starts showing up in everyday life,” said Will Reeves, founder and CEO of Fold. “For many people, this will be the first time they ever own Bitcoin — and it will come from something as ordinary as grabbing a burger.”
The promotion will run for a limited time across 400 U.S. locations, reflecting a growing effort to integrate Bitcoin into everyday consumer experiences.
From Experiment to Strategy
Steak ‘n Shake’s Bitcoin initiative places it among a small but growing list of American retailers — including Whole Foods, Starbucks, and AMC Theatres — that have experimented with or adopted cryptocurrency payments. However, few have gone as far as creating a dedicated Bitcoin treasury, signaling a longer-term belief in BTC’s role as both an asset and a payments network.
The chain’s decision may also influence competitors in the fast-casual dining sector to revisit digital payment options, especially as consumers become more comfortable using cryptocurrency in daily transactions.
Reaffirming Bitcoin Loyalty After Ethereum Backlash
Steak ‘n Shake’s embrace of Bitcoin hasn’t come without controversy. In September, the company faced backlash from Bitcoin maximalists after suggesting it might start accepting Ethereum (ETH). The idea was posted as a community poll on X, which drew nearly 49,000 votes — with 53% favoring Ethereum adoption.
Just four hours later, the poll was abruptly removed, and the brand issued a statement reading:
“Poll suspended. Our allegiance is with Bitcoiners. You have spoken.”
The reversal reignited debates around crypto tribalism but also reinforced the company’s clear positioning within the Bitcoin community. The statement followed another report of 15% year-over-year growth in same-store sales, which Steak ‘n Shake attributed largely to strong support from Bitcoin users across the U.S., France, Monaco, and Spain.
Why This Matters for Crypto Adoption
Steak ‘n Shake’s Bitcoin treasury may represent more than a marketing gimmick — it underscores a broader shift toward corporate-level Bitcoin accumulation among consumer brands. By holding BTC rather than liquidating it, the chain joins companies like MicroStrategy and Tesla, albeit at a smaller scale, in signaling confidence in Bitcoin as a store of value.
Moreover, the partnership with OpenSats and Fold demonstrates an understanding of Bitcoin’s culture — one rooted in decentralization, open-source funding, and real-world usability. The restaurant’s campaign blends those principles with everyday consumer behavior, giving Bitcoin new visibility outside traditional fintech channels.
A Step Toward Mainstream Use
As Steak ‘n Shake continues to experiment with BTC integration, its campaign reflects a pragmatic form of crypto adoption — one that merges corporate social responsibility, marketing innovation, and operational efficiency.
For many customers, buying a burger might be their first hands-on interaction with Bitcoin. For the crypto industry, it’s another sign that digital currency is slowly seeping into the fabric of ordinary life — one meal at a time.
