In a significant development for the fast food industry, Steak “n Shake has made headlines by adding $10 million worth of Bitcoin (BTC) to its balance sheet this week. This move marks a substantial step in the company”s ongoing embrace of cryptocurrency, following its decision to accept Bitcoin payments at all U.S. locations.
Steak “n Shake first introduced Bitcoin payments in May 2025, utilizing the Lightning Network to facilitate transactions. This strategic initiative aimed to cut credit card processing fees by 50% while attracting a younger, more tech-savvy customer base. The results have been promising, as the company reported a remarkable over 15% increase in same-store sales month-over-month during the fourth quarter of the previous year.
In a recent update shared on social media platform X, Steak “n Shake highlighted the success of its “burger-to-Bitcoin transformation,” stating, “Eight months ago today, Steak n Shake launched its burger-to-Bitcoin transformation when we started accepting bitcoin payments. Our same-store sales have risen dramatically ever since.” The company has effectively created a “self-sustaining” system where Bitcoin payments drive sales growth, with all cryptocurrency earned funneled into its Strategic Bitcoin Reserve.
The funds accumulated in this reserve are intended to finance future upgrades, such as enhancing food quality and renovating restaurants, all without raising menu prices. Last October, the restaurant chain celebrated the five-month anniversary of accepting Bitcoin payments by launching the Bitcoin Steakburger, featuring the iconic Bitcoin logo on its bun. Additionally, a portion of each Bitcoin Meal sold goes toward supporting open-source Bitcoin development.
Although the $10 million investment pales in comparison to the massive Bitcoin holdings of larger corporations, it underscores a trend of increasing corporate accumulation of cryptocurrency. For perspective, Strategy holds 687,410 BTC, valued at over $65.5 billion, which accounts for more than 3.2% of the total Bitcoin supply that will ever exist.
Steak “n Shake stands out as one of the few major fast food chains in the United States that accepts Bitcoin. Its competitor, Chipotle, began accepting cryptocurrencies through Flexa in 2022, further illustrating the growing acceptance of digital currencies in the food service sector.
