Steak 'n Shake, a 91-year-old burger chain, announced on January 17 via X that it purchased $10 million worth of Bitcoin for its balance sheet. The company stated this move increased its Bitcoin exposure and is part of a self-sustaining system linked to growing same-store sales.
In May 2025, the chain began accepting Bitcoin payments globally through the Lightning Network, an initiative supported by Bitcoin advocate Jack Dorsey. Within two weeks, the company reported saving nearly 50% in transaction fees compared to credit card processing.
By October 31, 2025, Steak 'n Shake launched a dedicated Bitcoin reserve, claiming it drove a 15% increase in same-store sales from crypto-friendly customers. The chain operates hundreds of stores in the U.S., France, Italy, Portugal, and Monaco.
Five months after adopting Bitcoin payments, in October 2025, Steak 'n Shake introduced a limited-edition Bitcoin Steakburger. It also rolled out a rewards program with Bitcoin financial services firm Fold Holdings, Inc.
Customers ordering the Bitcoin Steakburger or Bitcoin Meal can earn $5 in BTC via the Fold App, which uses a Visa-powered debit card. The promotion is active at about 400 U.S. locations, allowing diners to upload receipts at bitcoinmealdeal.com for redemption, with one redemption per user while supplies last.
At the time of reporting, Bitcoin was trading at $95,338.36, according to CoinGecko.