- Bitcoin payments accepted starting May 16, 2025
- System-wide implementation using the Lightning Network
- Partnership with Fold Holdings Inc. for customer rewards
- 15% increase in same-store sales attributed to Bitcoin customers
Steak ‘n Shake is now accepting Bitcoin payments at all locations, starting May 16, 2025, through the Lightning Network, as announced by executive Dan Edwards at the Bitcoin 2025 Conference.
The adoption of Bitcoin by Steak ‘n Shake marks a pivotal moment for cryptocurrency in mainstream transactions, potentially influencing other industries and contributing to the cryptocurrency’s market dynamics.
Steak ‘n Shake announced the acceptance of Bitcoin payments starting May 16, 2025. The initiative includes a system-wide implementation using the Lightning Network to support faster transactions and reduce fees.
Dan Edwards, a Steak ‘n Shake executive, declared the shift at the Bitcoin 2025 Conference. Companywide changes aim to establish Bitcoin as a mainstream payment option, saving 50% in processing fees when compared to credit cards.
“On May 16, we began accepting Bitcoin as payment in all of our locations where permitted to do so by law. This is a global implementation.” — Dan Edwards, Executive, Steak ‘n Shake
The introduction of Bitcoin payments is projected to impact transaction volumes significantly. On the launch day, one out of every 500 global Bitcoin transactions occurred at Steak ‘n Shake locations, showcasing immediate customer engagement.
Partnership and Rewards
The partnership with Fold Holdings Inc. offers Bitcoin rewards for customers, fostering increased patronage. Customers can earn rewards in BTC by participating in the program, therefore integrating cryptocurrency into daily transactions.
Impact on Revenue and Industry
Steak ‘n Shake’s Bitcoin acceptance marks a milestone for the fast-food industry. The company reports a 15% increase in same-store sales attributed to Bitcoin customers, highlighting the impact of cryptocurrency acceptance on revenue.
Expert analyses suggest substantial technological and financial outcomes, with anticipated blockchain innovations like a “blockchain menu.” The Strategic Bitcoin Reserve holds all received BTC, emphasizing long-term investment in cryptocurrency adoption.
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