Steak 'n Shake Jumps on the Bitcoin Bandwagon
Fast Food Chain Embraces Cryptocurrency Nationwide: Bitcoin Adoption Expands to American Fast Food Industry
Goodbye cash, hello Bitcoin! On May 16, American fastfood chain Steak 'n Shake will begin accepting Bitcoin payments at all of its US restaurants. The giant leap into cryptocurrency was announced on May 9 via a tweet, which read: “The movement is just beginning,” signed off as .
The crypto community has been eagerly awaiting this announcement, with murmurs starting in March when the chain had asked followers whether or not it should accept Bitcoin. In response, former Twitter CEO and long-time Bitcoin supporter, Jack Dorsey, gave a resounding "yes," fueling the buzz. Since then, Steak 'n Shake has been using Bitcoin-related promotion on its sites, such as Tesla giveaways and coded messages to stir excitement.
In a first for national restaurant chains, Steak 'n Shake will not just dabble in Bitcoin—they're diving headfirst. Beginning May 16, every customer who wishes to chow down on burgers, fries, and shakes will be able to do so using Bitcoin in-restaurant at all US locations. That's 100 million potential customers ready to step into the world of digitalcurrency!
Joining the Crypto revolution
Steak 'n Shake is not the first chain to flirt with crypto, but they're one of the few to fully commit. While others have only tested the waters or kept it to select locations, Steak 'n Shake is aiming for a nationwide rollout, bringing Bitcoin to the masses.
- Chipotle introduced Bitcoin payments in 2022 through a partnership with Flexa, but these payments are automatically converted to fiat currency upon processing.
- Subway has been testing crypto since 2013, but its implementation has been sporadic and limited.
- McDonald's has offered Bitcoin payments in Lugano, Switzerland, while Pizza Hut and Burger King have experimented with limited promotions and trials, particularly in nations like El Salvador, where Bitcoin is legal tender.
While the connection between Bitcoin and fastfood may seem unusual, it dates back to the early days of cryptocurrency—when a Florida man named Laszlo Hanyecz paid 10,000 BTC for two pizzas in 2010, a transaction now celebrated each year as Bitcoin Pizza Day. With the rollout of Steak 'n Shake's Bitcoin-accepting stores, the odd connection between the two gets a modern twist.
Gearing up for the future of payments
Steak 'n Shake's Bitcoin announcement comes as payments technology continues to advance. In April, a company called Mesh launched an Apple Pay integration, allowing merchants to accept crypto through Apple Pay. As the world becomes increasingly digitized, the future of payments looks brighter than ever.
Featured image from Unsplash, chart from TradingView
After a long wait, it seems that the future has finally arrived! Say goodbye to the old; take a bite of the digital revolution! 🚨⚡️🍔🍟🥤💳
Editorial Process:
Enrichment Data:
Overall:
Adoption of Bitcoin Payments by National Restaurant Chains: A Comparative Analysis
several national restaurant chains have experimented with Bitcoin payments over the years, though many of these efforts have been limited or discontinued. Here is a comparison of some notable examples with Steak 'n Shake's adoption:
Other National Chains:
1. Chipotle:- Implementation Details: In 2022, Chipotle began accepting over 90 cryptocurrencies, including Bitcoin, through a partnership with Flexa. However, these payments are automatically converted to fiat currency upon processing.- Comparison to Steak 'n Shake: Unlike Chipotle, Steak 'n Shake's integration involves direct Bitcoin acceptance without automatic fiat conversion, making it a more direct engagement with cryptocurrency.
2. Starbucks (via Third Parties):- Implementation Details: While not directly accepting Bitcoin, some Starbucks locations have been part of wider pilots allowing Bitcoin transactions through third-party apps, which convert the cryptocurrency to fiat for the merchant. This is not a direct initiative by Starbucks.- Comparison to Steak 'n Shake: Steak 'n Shake is fully committed to accepting Bitcoin at all locations, unlike the indirect methods used by some Starbucks locations.
Analysis of Steak 'n Shake's Adoption
Steak 'n Shake:- Implementation Details: Steak 'n Shake will accept Bitcoin payments at all U.S. locations starting May 16, 2025. This is significant because it involves a full-scale rollout across over 500 restaurants, exposing Bitcoin to high-frequency transactions.- Key Points: - Scale: Steak 'n Shake's initiative is notable for its nationwide scope without limiting to pilot locations. - Engagement: The company has built momentum by incorporating Bitcoin imagery into its marketing campaigns, showcasing a strong cultural alignment with the cryptocurrency. - Challenge: This rollout will test Bitcoin's usability in low-margin, high-volume transactions typical of the fast food industry.
Comparison Summary
| Feature | Steak 'n Shake | Other Chains (e.g., Chipotle) ||---------------------------------|-------------------------------------------------|-------------------------------------------------|| Scope of Rollout | Nationwide rollout across all locations | Often limited to specific locations or pilots || Conversion | Direct Bitcoin acceptance | Automatic conversion to fiat currency || Engagement | Strong cultural integration through marketing | Often less emphasized or indirect methods used || Transaction Type | High-frequency, low-cost transactions | Various transaction types, but often focused on convenience rather than direct cryptocurrency use |
In summary, Steak 'n Shake's adoption of Bitcoin payments is more comprehensive and culturally aligned compared to other chains, which often have limited or indirect engagements with cryptocurrency.
- Steak 'n Shake's nationwide adoption of Bitcoin payments sets a distinct precedent in the fastfood industry, joining the growing list of establishments embracing digital currencies in their day-to-day operations.
- As of May 16, 2025, customers dining at Steak 'n Shake will have the option to pay for their food-and-drink items using Bitcoin, marking a significant shift from traditional fiat currency transactions.
- With the implementation of Bitcoin payments, Steak 'n Shake joins an elite club of chains dabbling in cryptocurrency, including Chipotle, Subway, McDonald's, Pizza Hut, and Burger King.
- Unlike its peers, Steak 'n Shake emphasizes direct Bitcoin acceptance rather than automatic conversion to fiat currency, underscoring its commitment to the crypto community.
- As technology continues to reshape our lifestyle, including the way we dine and spend, the adoption of Bitcoin payments in the fastfood sector showcases the growing integration of cryptocurrency and technology in our everyday lives.
