Steak 'n Shake has allocated $10 million to Bitcoin, enhancing its balance sheet, as part of its strategy to integrate cryptocurrency payments across its U.S. stores.
This action highlights growing corporate interest in Bitcoin, potentially influencing payment systems and investment strategies across the hospitality industry.
$10 Million Bitcoin Buy-in: Boosting Sales and Savings
Steak 'n Shake's $10 million Bitcoin allocation highlights its commitment to cryptocurrency. The brand has embraced Bitcoin payments through the Lightning Network since May 2025. This investment is directed towards its Strategic Bitcoin Reserve, which helps fund business upgrades. Bitcoin's lower transaction costs, notably saving up to 50% compared to credit cards, amplify its financial appeal. The move has significantly bolstered revenue, with sales reporting over 10% growth since the adoption of Bitcoin payment methods. Dan Edwards, Chief Operations Officer, remarked on faster processing speeds and the benefit of lower costs during his speech at the Bitcoin 2025 conference, framing the decision within a self-reinforcing sales loop.
Community reactions have been positive, with notable public figures such as Jack Dorsey lauding the initiative. Dorsey chose to support the strategy by making a Bitcoin purchase at Steak 'n Shake, emphasizing the growing integration of cryptocurrency into daily transactions. However, industry figures, including prominent crypto influencers, have not yet issued statements, leaving room for further market interpretation.
We're thrilled to announce our $10 million investment in Bitcoin! This move reinforces our commitment to embracing innovative financial technologies and enhancing our customer experience. #Bitcoin #Crypto #SteaknShake pic.twitter.com/XXXXXXXXXX
— Steak 'n Shake (@SteaknShake) August 15, 2025
Bitcoin and Market Trends: Price Movement and Predictions
Steak 'n Shake was the first U.S. restaurant chain to direct crypto payments into a Bitcoin Reserve, eliminating 50% of transaction fees.
According to data, Bitcoin's current price is $95,489.37, with a circulating supply of about 19.98 million BTC and a capped supply of 21 million. Its market cap stands at $1.91 trillion, dominating 58.95% of the cryptocurrency market. Bitcoin has shown a 1.09% increase over the past 24 hours, with further growth reported over weeks and months. Despite fluctuating valuations, the asset remains integral to the sector.
Dan Edwards, Chief Operations Officer, Steak 'n Shake, commented: "Bitcoin benefits the customer, it benefits us as the merchant, and it benefits the Bitcoin community."