Steak ’n Shake has announced the creation of a Strategic Bitcoin Reserve (SBR) and the rollout of a bitcoin rewards program across its nationwide locations, positioning itself at the forefront of bitcoin adoption in the fast food sector.
Steak ’n shake’s bitcoin reserve initiative
On October 31, Steak ’n Shake revealed that all payments received in bitcoin will be deposited into its newly established SBR.
This move is designed to signal a long-term commitment to holding bitcoin as part of the company’s financial strategy.
The company also pledged to donate 210 sats from each bitcoin meal sold to the Open Sats Initiative Inc. over the next year.
The company highlighted the impact of its bitcoin engagement, noting a significant boost in sales performance:
“Thank you, Bitcoiners, for helping change the trajectory of Steak n Shake, with a same-store sales increase of 15% in our most recent quarter — higher than ALL our competitors!”
Fold partnership brings btc rewards to customers
Through a partnership with Fold Holdings Inc., customers purchasing select meals can earn $5 in bitcoin via the Fold app.
To participate, diners upload a receipt and redeem a code for their reward, with the offer available at approximately 400 Steak ’n Shake locations nationwide.
The campaign is designed to make bitcoin earning and ownership accessible as part of everyday purchases.
Will Reeves, Fold’s chairman and CEO, stated:
“Bitcoin goes mainstream when it starts showing up in everyday life. That’s been our vision from the beginning and our promotion with Steak ’n Shake is the next step in that journey. For many people, this will be the first time they ever own bitcoin, and it will come from something as ordinary as grabbing a burger. That’s what real adoption looks like.”
Industry impact and mainstream adoption
This marks the first time a U.S. restaurant chain has bundled meals with bitcoin rewards, a significant milestone for mainstream bitcoin adoption.
Steak ’n Shake’s integration of bitcoin payments and rewards highlights the potential for digital assets to drive customer loyalty and boost sales in the restaurant industry.
The move could serve as a model for other companies considering similar strategies.
