Steak ’n Shake Adopts Bitcoin with Strategic Bitcoin Reserve
Steak ’n Shake, a famous American fast-food chain, has become the first big restaurant to start a Strategic Bitcoin Reserve (SBR). This move shows the company’s deeper interest in Bitcoin. It mixes finance, technology, and food in a new way for a 91-year-old brand.
The company said it will keep all bitcoin payments instead of changing them back to dollars. This will grow their Bitcoin reserve, making their business model different from others. Dan Edwards, an executive at Steak ’n Shake, said this change is real and not just a marketing trick.
New Bitcoin Menu Items Reward Customers
To celebrate this change, Steak ’n Shake created two special menu items for a short time. These are the Bitcoin Steakburger and the Bitcoin Meal. Customers who buy these meals can earn $5 in bitcoin. This happens thanks to a partnership with Fold, a company that offers bitcoin rewards.
To get their bitcoin reward, customers upload their receipts to bitcoinmealdeal.com and get their bitcoin through the Fold app. The burgers even have a Bitcoin logo burned on the top bun. This fun detail shows the brand’s connection to Bitcoin culture.
Fold CEO Shares Plans for Bitcoin Partnerships
Will Reeves, CEO of Fold, said, “This is the first in a series of mainstream partnerships we plan to roll out. All focused on showing how Bitcoin can fit naturally into everyday spending.” Fold holds about 1,500 Bitcoin and has worked with companies in retail and lifestyle. But this campaign is their first with a restaurant.
Steak ’n Shake Sees Sales Growth and Cost Savings
Steak ’n Shake’s Bitcoin experiment has helped the company. They recently reported a 15% increase in sales at stores open the same amount of time. This beats many competitors.
Edwards said the growth comes from customer excitement and saving money on fees. The company now uses the Lightning Network. This layer 2 payment system is faster and cheaper. It cuts payment processing fees by about half.
Edwards added, “We’ve seen a sustained spike since adding Bitcoin. One in every 500 Bitcoin transactions worldwide happened at Steak ’n Shake on launch day.”
The company does not just want to follow a trend. Edwards said taking Bitcoin lowers costs for both the company and its customers. It also creates real benefits.
Supporting Bitcoin Development with Donations
Steak ’n Shake is sharing some bitcoin too. For every Bitcoin Meal sold, the chain gives 210 satoshis to the OpenSats Initiative. This nonprofit supports open-source Bitcoin development. Bitcoin fans appreciate this long-term support for the decentralized future of Bitcoin.
Steak ’n Shake’s Bitcoin adoption shows how a traditional business can join the digital currency world. It creates new chances for customers, saves money, and helps Bitcoin grow.
