Steak ‘n Shake is making history as the first major restaurant to establish a strategic Bitcoin reserve.
All payments received in Bitcoin are added to the Strategic Bitcoin Reserve (SBR), making it a fun and big step towards Bitcoin adoption in fast food chains.
As part of this initiative, the company will donate 210 Sats to the Open Sats Initiative, Inc. for every Bitcoin Meal sold over the next 12 months.
Customers who purchase and register a Bitcoin Steakburger through the Fold app will also receive $5 in free Bitcoin with instructions on their receipt.
The move comes on the heels of a strong quarter, with same-store sales up 15%, outpacing competitors and highlighting the growing impact of crypto initiatives on restaurant revenue.
Steak ‘n Shake partners with Fold
Today, the company and Fold Holdings launched a limited-time promotion at more than 1,200 Steak ‘n Shake locations, allowing customers to earn $5 in Bitcoin with a Bitcoin Meal or Bitcoin Steakburger.
Diners can simply upload their receipt to bitcoinmealdeal.com and redeem the code through the Fold app to receive instant rewards.
The promotion marks the first menu item at a U.S. restaurant to tie in a Bitcoin perk, and the burger bun is also embossed with the Bitcoin logo to commemorate its mainstream adoption.
The campaign coincides with the 17th anniversary of the Bitcoin Whitepaper and builds on Steak ‘n Shake’s previous adoption of Lightning Network payments.
Holding approximately 1,500 BTC, Fold continues to expand the Bitcoin rewards ecosystem.
Improving payment speed with Bitcoin
At the Bitcoin 2025 Conference, Steak ‘n Shake executive Dan Edwards highlighted the company’s global adoption of Bitcoin payments via the Lightning Network.
He noted that Bitcoin transactions immediately exceeded expectations, with one in every 500 Bitcoin transactions worldwide occurring at Steak ‘n Shake on launch day.
Edwards said accepting Bitcoin has reduced processing fees by 50%, benefiting both the company and its customers.
He emphasized that the initiative is not a marketing ploy, but a true payments upgrade, and reported positive changes in customer behavior since its introduction.
Steak ‘n Shake reported that customer behavior is already changing. “Since the addition of Bitcoin, we have seen a sustained spike,” Edwards noted.
Edwards also teased the company’s future plans and called for more technology talent. “We’re not done yet. We’re investing in CyberChef, autonomous driving, and AI technology. And we need engineers to help us build it.”
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