Steak ‘n Shake Embraces Bitcoin with New Strategic Reserve and Customer Incentives
American fast-food chain Steak ‘n Shake is making a bold move into the cryptocurrency space by launching a strategic Bitcoin reserve. Under this initiative, every payment made in Bitcoin at its restaurants will be directly funneled into the company’s new digital treasury. This development is more than a marketing gimmick—it’s a calculated step toward integrating crypto into everyday consumer experiences.
The company announced on social media that it would allocate all received Bitcoin payments to its reserve fund, signaling a long-term commitment to the leading digital asset. As part of its Bitcoin-focused campaign, Steak ‘n Shake will also contribute 210 satoshis (the smallest unit of Bitcoin, equal to 0.00000210 BTC or approximately $0.23) from every “Bitcoin Meal” purchase to OpenSats, a nonprofit supporting open-source Bitcoin development and contributors to Bitcoin Core.
Bitcoin Payments and Customer Engagement
While the company has yet to reveal exact figures on how much of its revenue now comes from Bitcoin transactions, this move reflects a growing recognition of Bitcoin’s potential in the retail and restaurant sectors. Since beginning to accept Bitcoin payments across all its U.S. locations in May, Steak ‘n Shake has joined a small but growing number of food chains exploring alternative payment systems.
To further encourage adoption, Steak ‘n Shake has launched a limited-time partnership with Fold, a Bitcoin rewards platform. Through this collaboration, customers who purchase a “Bitcoin Meal” or “Bitcoin Steakburger” can receive $5 in Bitcoin by scanning their receipt in the Fold app. This incentive is available at around 400 locations nationwide, making it one of the most extensive crypto-related promotions in the American fast-food industry.
Revenue Growth and Crypto’s Influence
In terms of financial performance, Steak ‘n Shake appears to be riding a wave of positive momentum. The chain reported $69.3 million in revenue for Q2 2025, representing a 12% increase year-over-year. More notably, same-store sales rose by 10.7% compared to the previous quarter—a boost the company partially attributes to increased engagement from Bitcoin enthusiasts. That trend continued into the third quarter with a 15% rise in same-store sales, suggesting that the crypto integration is resonating with a niche but enthusiastic customer base.
Despite this progress, Bitcoin still represents a relatively small slice of Steak ‘n Shake’s overall payment volume. Unlike companies like MicroStrategy or Bitcoin miners that hold substantial Bitcoin reserves, the restaurant chain is likely to accumulate BTC at a slower rate. Nonetheless, the long-term implications of such a strategy could be significant, especially as mainstream interest in cryptocurrency continues to expand.
Cost Savings and Operational Efficiency
Beyond potential gains from holding Bitcoin, Steak ‘n Shake is already reaping operational benefits. By accepting BTC, the chain estimates it saves up to 50% in transaction processing fees compared to traditional credit card payments. This efficiency could become increasingly valuable if digital assets become more widely used in retail environments.
The Bigger Picture: Bitcoin Integration in Daily Life
Will Reeves, CEO of Fold, emphasized the broader significance of this initiative. “Bitcoin becomes mainstream when it integrates into everyday routines,” he said. “This partnership with Steak ‘n Shake is about making Bitcoin accessible—whether it’s your first time owning it or just another way to pay for lunch.”
This approach aligns with a growing trend among businesses seeking to lower the barrier to entry for crypto adoption. By tying Bitcoin rewards to something as familiar as a burger, the chain is helping demystify crypto ownership for everyday consumers. For many, this may be their first experience with digital currency—an important step in driving adoption.
Why This Matters for the Crypto Industry
Steak ‘n Shake’s entry into the Bitcoin space, while modest in scale compared to major institutional players, sets an important precedent. It shows that even traditional, brick-and-mortar companies can find strategic value in Bitcoin beyond speculation. Whether through treasury accumulation, cost-cutting, or customer engagement, the fast-food chain is exploring multiple dimensions of crypto utility.
This move also offers insights into how consumer behavior and brand loyalty can intersect with decentralized finance. Promotions that reward customers in Bitcoin may not only drive sales but also introduce a younger, tech-savvy demographic to the brand. In turn, this could influence competitors to adopt similar strategies, gradually normalizing crypto within the fast-food and broader retail industries.
Challenges and Future Outlook
Of course, this strategy is not without challenges. Bitcoin’s price volatility, regulatory uncertainty, and limited mainstream usage still pose significant hurdles. Moreover, the impact on long-term financial performance remains to be seen. Yet Steak ‘n Shake’s willingness to experiment signals a broader shift in corporate thinking.
The partnership with Fold also highlights the potential for ecosystem collaborations to drive innovation. By leveraging platforms that already cater to crypto users, traditional businesses can reduce onboarding friction and tap into a ready-made user base.
Looking ahead, if Bitcoin adoption in retail continues to grow, we could see more nuanced use cases emerge—such as loyalty programs based on blockchain, dynamic pricing in crypto, or even decentralized governance models for customer engagement. Steak ‘n Shake’s initiative may be just the beginning of a larger transformation in how companies interact with money and customers.
In summary, Steak ‘n Shake’s strategic Bitcoin reserve is more than a headline—it’s a small but meaningful step toward integrating digital currency into the everyday economy. Whether it evolves into a game-changing model or remains a niche experiment will depend on consumer adoption, market conditions, and the company’s long-term commitment. But for now, Bitcoin enthusiasts have one more reason to swing by for a burger.