Steak ‘n Shake Doubles Down on Bitcoin
In a bold move that merges traditional dining with modern technology, the popular American restaurant chain Steak ‘n Shake has announced a $10 million increase in its Bitcoin exposure. This comes after its successful adoption of Bitcoin payments last year, which the company credits with significantly boosting same-store sales.
The Rise of the ‘Strategic Bitcoin Reserve’
Eight months ago, Steak ‘n Shake made headlines by accepting Bitcoin as a payment method, delighting customers and crypto enthusiasts alike. All Bitcoin payments received are added to their self-titled ‘Strategic Bitcoin Reserve,’ signaling the chain’s long-term commitment to cryptocurrency. On Friday, the company revealed via X (formerly Twitter) that it had added $10 million in notional value to its Bitcoin holdings.
“We have created a self-sustaining system—growing same-store sales that grow the Strategic Bitcoin Reserve (SBR),” Steak ‘n Shake shared. This innovative approach demonstrates how a traditional business can blend into the ever-evolving digital economy, leveraging Bitcoin to drive profitability and brand loyalty.
A Burger for Bitcoin Enthusiasts
Steak ‘n Shake continues to celebrate its Bitcoin journey with inventive offerings. Last October, the company introduced the Bitcoin Steakburger, a delicious burger featuring a Bitcoin logo branded on the top bun. As part of the promotion, customers were rewarded with $5 in free Bitcoin via a collaboration with Fold, a Bitcoin financial services firm. This special offer helped generate buzz and allowed crypto-enthusiasts to connect with the brand on a deeper level.
Looking Ahead: A Bitcoin-Only Focus
Although the company briefly considered expanding its cryptocurrency support to include Ethereum, Steak ‘n Shake ultimately opted to remain loyal to Bitcoin, following feedback from loyal Bitcoin advocates. The decision underscores its commitment to solidifying its position as a Bitcoin-friendly brand within the restaurant industry.
Exploring Bitcoin and blockchain technologies positions Steak ‘n Shake as a forward-thinking company, ready to embrace the future of financial transactions. This initiative also demonstrates how businesses can modernize their operations without abandoning their core values.
If you’re curious about what Steak ‘n Shake and Bitcoin have to offer, consider trying their signature Bitcoin Steakburger while exploring a cryptocurrency exchange like Coinbase to purchase your first Bitcoin and join the digital revolution.
