Steak ’n Shake, the iconic American fast-food chain known for its steakburgers and milkshakes, has made history by becoming the first major restaurant to launch a Strategic Bitcoin Reserve (SBR).
The move signals a deeper step into Bitcoin adoption — blending finance, technology, and food culture in a way that few expected from a 91-year-old restaurant brand.
The company announced that all payments received in bitcoin will now be added to its Strategic Bitcoin Reserve, marking a unique approach to corporate treasury management.
Rather than converting bitcoin payments back to dollars, Steak ’n Shake plans to hold the BTC it earns. Steak ’n Shake executive Dan Edwards explained that the company’s new payment upgrade is genuine, not a marketing stunt.
As part of the initiative, Steak ’n Shake also launched a limited-time promotion featuring the Bitcoin Steakburger and the Bitcoin Meal — both of which come with bitcoin rewards.
Diners who order these items can earn $5 in bitcoin through a partnership with Fold, a bitcoin rewards app and financial services company.
Customers simply upload their receipt to bitcoinmealdeal.com and redeem their bitcoin through the Fold app. Each burger even features the Bitcoin logo burnt on the top bun, a playful nod to the Bitcoin culture.
“This is the first in a series of mainstream partnerships we plan to roll out,” said Will Reeves, CEO of Fold. “All focused on showing how Bitcoin can fit naturally into everyday spending.”
Fold, which holds around 1,500 BTC, has previously worked with brands in retail and lifestyle sectors, but described this campaign as a milestone for bringing Bitcoin to the restaurant industry.
Steak ’n Shake’s Bitcoin experiment appears to be paying off. The company recently reported a 15% increase in same-store sales, outperforming competitors. Edwards credits the increase to both customer excitement and the cost savings from Bitcoin payments.
By accepting payments through the Lightning Network, a faster and cheaper Bitcoin layer 2 payment system, the company has cut processing fees by about 50%.
“We’ve seen a sustained spike since adding Bitcoin,” Edwards said, noting that one in every 500 global Bitcoin transactions occurred at Steak ’n Shake during launch day.
The company stressed that adopting Bitcoin wasn’t just about following a trend, but about creating real benefits for customers and operations. Edwards noted that accepting bitcoin lowered processing fees for the company and its customers.
Steak ’n Shake isn’t keeping all the bitcoin to itself.
As part of the promotion, the company pledged to donate 210 satoshis from every Bitcoin Meal sold to the OpenSats Initiative, a nonprofit that supports open-source Bitcoin development.
This gesture has been widely appreciated within the Bitcoin community, showing that the chain’s Bitcoin adoption is rooted in long-term support for decentralized innovation.
