Fast-food chain Steak ‘n Shake, which accepts Bitcoin payments across its locations, has announced a significant increase in its Bitcoin holdings, with its corporate treasury expanding by approximately $10 million in notional value. The company’s strategic use of Bitcoin not only serves as a treasury asset but also positively influences its sales figures, showcasing a compelling case for crypto integration in the retail sector.
Key Takeaways
- •Steak ‘n Shake’s Bitcoin treasury grew by $10 million, driven by BTC sales and strategic reserves.
- •The company’s adoption of Bitcoin as a payment method began in May 2025.
- •Same-store sales increased by 11% in Q2 and 15% in Q3 2025, surpassing major competitors.
- •Expansion into El Salvador aligns with its pro-Bitcoin stance and community support.
Sentiment: Bullish
Price impact: Positive. The growth in Bitcoin reserves and increased sales indicate a favorable market response to the company’s strategies.
Market context: The move reflects broader industry trends where companies leverage Bitcoin not only as an asset but also as a means of daily transactions, strengthening Bitcoin’s role as a medium of exchange.
Strategic Growth and Bitcoin Adoption
Steak ‘n Shake announced in May 2025 that it would begin accepting Bitcoin at all its global outlets, gradually rolling out the payments system. This initiative was met with enthusiasm from the crypto community, with users sharing receipts of BTC transactions and celebrating the company’s progressive stance. By November 2025, the restaurant chain expanded its footprint into El Salvador, a country renowned for its supportive Bitcoin policies, further cementing its commitment to cryptocurrency adoption.
The company’s recent quarterly results underscore this shift. In Q2 2025, same-store sales increased by 11%, with Q3 showing a 15% rise, outpacing industry giants like McDonald’s, Domino’s, and Taco Bell. Steak ‘n Shake attributes this surge to its Bitcoin strategy, which has helped revitalize sales amidst declining physical store numbers. From a peak of 628 locations in 2018, US outlets have decreased to 394 by 2026, according to data from ScrapeHero, but its innovative approach appears to be providing a new growth avenue.
Industry experts welcome this bold move, emphasizing Bitcoin’s potential as a financial buffer. Bitcoin investor and financial accountant Rajat Soni noted that holding Bitcoin can extend a company’s financial endurance, especially in challenging market environments, thus offering a strategic advantage for resilient business models.
Overall, Steak ‘n Shake’s integration of Bitcoin highlights evolving corporate perceptions of crypto assets—from speculative tools to functional financial instruments—while also indicating broader acceptance of Bitcoin as a medium of exchange in the retail and food service sectors.