Restaurant Chain Expands Bitcoin Investment
Steak 'n Shake, one of the oldest burger establishments in the United States, is significantly expanding its cryptocurrency adoption. The 91-year-old company began accepting Bitcoin (BTC) payments for its menu items globally in May 2025. In a recent development in 2026, its Bitcoin Treasury has acquired an additional $10 million worth of Bitcoin, adding it to the company's balance sheet.
Steak 'n Shake announced its latest Bitcoin purchase on X (formerly Twitter) on January 17th. In a post shared on the platform, the company detailed the acquisition and highlighted the positive impact Bitcoin has had on its sales performance.
"Today we increased our Bitcoin exposure by $10,000,000 in notional value. We have created a self-sustaining system — growing same-store sales that grow the SBR [Strategic Bitcoin Reserve]."
The fast-food chain initially started accepting BTC payments worldwide in May 2025, utilizing the Lightning Network, a technology championed by Bitcoin advocate and Block co-founder Jack Dorsey. Within the first two weeks of implementation, Steak 'n Shake reported substantial savings, experiencing a reduction of nearly 50% in transaction fees compared to traditional credit card processing.
By October 31st of the same year, Steak 'n Shake had become the first major U.S. restaurant chain to establish a dedicated Bitcoin reserve. The company claimed a notable 15% increase in same-store sales, attributing a significant portion of this growth to its crypto-friendly customer base. Steak 'n Shake operates hundreds of locations across the U.S., France, Italy, Portugal, and Monaco. The chain reiterated that this strategic pivot helped it save approximately 50% in payment processing fees within just two weeks, as customers opted to pay with BTC rather than credit cards.
Introduction of Bitcoin Rewards and Crypto Menu Items
Five months after integrating Bitcoin payments, Steak 'n Shake introduced a limited-edition Bitcoin Steakburger in October. This initiative is part of its broader strategy to expand its presence within the Bitcoin economy.
In conjunction with its Bitcoin payment adoption, Steak 'n Shake has also launched a rewards program in collaboration with Bitcoin financial services firm Fold Holdings, Inc. Customers who purchase the Bitcoin Steakburger or a Bitcoin Meal are eligible to earn $5 in BTC through the Fold App. The Fold App provides users with the ability to spend and save Bitcoin using a Visa-powered debit card.
This promotion is available at approximately 400 U.S. locations. To participate, diners are invited to upload their receipts to bitcoinmealdeal.com and redeem their BTC rewards via the Fold App. Each user is limited to one redemption per promotion, and rewards are available while supplies last.