Steak ‘n Shake, the iconic American fast food chain known for its steakburgers and milkshakes, made history by becoming the first major restaurant to launch a Strategic Bitcoin Reserve (SBR).
The move marks a deeper dive into Bitcoin adoption, fusing finance, technology and food culture in a way few expected from the 91-year-old restaurant brand.
The company announced that all payments received in Bitcoin will be added to its strategic Bitcoin reserve, demonstrating its unique approach to corporate financial management.
Steak ‘n Shake plans to hold the BTC it earns rather than converting Bitcoin payments back into dollars. Steak ‘n Shake executive Dan Edwards explained that the company’s new payment upgrades are genuine and not a marketing stunt.
As part of this initiative, Steak ‘n Shake also launched a limited-time promotion featuring Bitcoin Steakburgers and Bitcoin Meals. Both come with Bitcoin perks.
Diners who order these items will earn $5 in Bitcoin through a partnership with Fold, a Bitcoin rewards app and financial services company.
Customers can simply upload their receipts to bitcoinmealdeal.com and redeem their Bitcoins through the Fold app. The Bitcoin logo is baked into the top of each burger, a playful nod to Bitcoin culture.
“This is the first in a series of mainstream partnerships that we plan to develop.” Fold CEO Will Reeves said: “Everyone was focused on showing how Bitcoin fits naturally into everyday spending.”
Fold, which has around 1,500 BTC, has previously worked with brands in the retail and lifestyle sectors, and said this campaign is a milestone in introducing Bitcoin to the restaurant industry.
Steak ‘n Shake’s Bitcoin experiment appears to be working. The company recently reported a 15% increase in same-store sales, outpacing its competitors. Edwards attributes this increase to both customer excitement and cost savings from Bitcoin payments.
The company has reduced processing fees by about 50% by accepting payments through the Lightning Network, a faster and cheaper Bitcoin Layer 2 payment system.
“Since the addition of Bitcoin, we have seen a sustained spike.” Edwards pointed out that one in every 500 bitcoin transactions worldwide occurred at Steak ‘n Shake on launch day.
The company emphasized that adopting Bitcoin is not just about following trends, but creating real benefits for customers and operations. Edwards noted that accepting Bitcoin has reduced processing fees for the company and its customers.
Steak ‘n Shake doesn’t hog all the Bitcoin.
As part of the promotion, the company pledged to donate 210 Satoshis for every Bitcoin Meal sold to the OpenSats Initiative, a nonprofit organization supporting open source Bitcoin development.
This initiative has been widely praised within the Bitcoin community and shows that the chain’s Bitcoin adoption is rooted in its long-term support for decentralized innovation.