Steak ‘n Shake Embraces Bitcoin Payments for Global Expansion
- Steak ‘n Shake implements Bitcoin BTC +0.67% payments globally, boosting sales and profits.
- 15% sales increase, 50% fee reduction reported.
- Bitcoin payment adoption expands through Fold partnership.
Steak ‘n Shake announced its global Bitcoin payment rollout starting May 16, 2025, reported by Dan Edwards during the Bitcoin 2025 Conference.
Bitcoin adoption increases sales by 15%, demonstrating cryptocurrency’s potential impact on everyday transactions and reducing processing fees for businesses.
Steak ‘n Shake Embraces Bitcoin Payments
Steak ‘n Shake has introduced a global initiative to accept Bitcoin as payment, starting May 16, 2025. Executive Dan Edwards announced at the Bitcoin 2025 Conference that this move is applicable where legally possible. Reports indicate that one out of every 500 global Bitcoin transactions occurred at their locations on launch day.
The initiative involves key players like Will Reeves, CEO of Fold Holdings Inc., focusing on Bitcoin rewards integration.
Steak ‘n Shake experienced a 15% increase in same-store sales, exceeding competitors’ performance. They’ve also registered a 50% reduction in processing fees compared to credit card transactions.
The implementation uses the Lightning Network, facilitating faster payments and lower costs.
Dan Edwards underscores benefits for both customers and the company, labeling it a win for the Bitcoin community.
“Bitcoin is faster than credit cards, and when customers choose to pay in Bitcoin, we’re saving 50% in processing fees. That makes Bitcoin a win for the customer, a win for us, and a win for the Bitcoin community.” – Dan Edwards, Executive, Steak ‘n Shake.
These advancements align Steak ‘n Shake with emerging payment trends.
The restaurant chain created a Strategic Bitcoin Reserve, depositing all received Bitcoin payments as part of a long-term holding strategy. The use of Bitcoin rewards with the Fold app further integrates the cryptocurrency in daily transactions.
Will Reeves commented on this as a significant step in Bitcoin’s mainstream acceptance. The transition to digital payments is seen as part of increased adoption, benefiting customers’ experience and merchants’ bottom lines.
