Key Highlights
- •Six months of Bitcoin payments tied to 15% same-store sales growth.
- •All BTC revenue flows into a Strategic Bitcoin Reserve funded by customers.
- •Steak ’n Shake now plans expansion into Bitcoin-legal-tender El Salvador.
Steak ’n Shake, the fast-food chain, is turning its Bitcoin (BTC) experiment into a long-term strategy. Six months after the 91-year-old U.S. restaurant chain began accepting BTC via the Lightning Network, the company says the move has influenced operations, its customer base, and its treasury.
In a November 17 update on X, Steak ’n Shake noted that same-store sales have climbed more than 15% since integrating Bitcoin payments. The company attributed it to lower processing fees, crypto-driven brand engagement, and the launch of its Strategic Bitcoin Reserve (SBR).
A Fast-Food Chain with a Bitcoin Treasury
Steak ’n Shake launched its Strategic Bitcoin Reserve on November 1, committing to store every Bitcoin payment directly in a corporate reserve instead of converting it to cash. Unlike firms like MicroStrategy or Tesla that buy BTC outright, Steak ’n Shake is building its reserve organically from customer payments, avoiding speculative balance-sheet risk.
The rollout is tied to several community incentives: 210 sats from every “Bitcoin Meal” donated to OpenSats, $5 in BTC rewards through Fold for customers who upload receipts, and Bitcoin-themed items like the “Bitcoin Steakburger” and “Stack ’n Sats.”
The company began accepting Lightning payments in May 2025, cutting processing fees nearly in half and earning early support from figures like Jack Dorsey, who shared photos of himself paying for fries with BTC.
Sales Growth and Expansion Plans
Six months into the initiative, the company’s outlook has shifted significantly. In an X post dated November 17, Steak ’n Shake framed Bitcoin as central to its turnaround, pointing to more than 15% same-store sales growth. It also highlighted a “self-sustaining system” where Bitcoin-driven sales feed its Strategic Bitcoin Reserve, which in turn funds store upgrades and expansion.
The company also announced plans to expand into El Salvador, the first country to adopt Bitcoin as legal tender. “Our bitcoin power law is to improve food quality, remodel, and expand,” the company wrote.
A Growing Global Trend
Steak ’n Shake’s pivot comes amid a broader shift. Bitcoin treasuries, once an outlier, are becoming a corporate strategy across regions hit by inflation or currency debasement.
The chain is the first major fast-food brand to transform Bitcoin payments into a corporate reserve, using customer behavior rather than financial engineering to build a long-term position.
Whether this approach becomes a model for other restaurant chains or remains a niche experiment will hinge on Bitcoin’s staying power in everyday payments. For now, the company’s message is simple: its burger-to-Bitcoin pipeline isn’t closing anytime soon.