Steak ’n Shake has acquired $10 million in Bitcoin. The American fast-food chain announced the purchase on its official X account, eight months after it began accepting Bitcoin payments in its U.S. restaurants.
The initiative aims to deepen integration of the cryptocurrency into the company’s business operations while creating a Strategic Bitcoin Reserve. "All Bitcoin payments go into our Strategic Bitcoin Reserve," the company emphasized.
Besides increasing exposure to Bitcoin, the restaurant chain reports tangible financial improvements from its crypto initiative. According to Chief Operations Officer Dan Edwards, Bitcoin payments have reduced processing costs by 50% and accelerated transaction speeds at the register.
“Bitcoin is a win for the customer, it’s a win for us as the merchant, and it’s a win for you in the Bitcoin community,” Edwards said during the Bitcoin 2025 conference. The move reflects a strategic blend of innovation and efficiency, which has reportedly contributed to a 10.7% rise in second-quarter sales, followed by a 15% increase in the third quarter.
First-Mover Advantage and Market Impact
Steak ’n Shake claims a first-mover position among restaurant chains by establishing a Strategic Bitcoin Reserve. The company did not disclose whether the $10 million acquisition occurred in a single transaction or accumulated over time.
This move shows that Steak ’n Shake believes in Bitcoin’s long-term value. It also sets the brand apart from competitors like McDonald’s, Burger King, Taco Bell, and Starbucks by using Bitcoin not just for payments but also in marketing.
On top of that, the chain has added fun ways to include Bitcoin in its menu. For example, the Bitcoin Burger even has a bun stamped with the cryptocurrency logo, and the Bitcoin Meal program gives customers $5 in Bitcoin through the Fold app.
Steak ’n Shake also donates 210 satoshis from every Bitcoin Meal to the Open Sats Initiative, connecting its sales to a good cause. Last November, the chain expanded to El Salvador, a country that officially uses Bitcoin, is showing its dedication to embracing cryptocurrency.