Steak ‘n Shake Adds $10 Million in Bitcoin Exposure Alongside BTC 'Strategic Reserve'
Steak ‘n Shake has increased its exposure to Bitcoin by $10 million in notional value, crediting the cryptocurrency for boosting same-store sales since it began accepting Bitcoin payments eight months ago. The company places all Bitcoin sales into a Strategic Bitcoin Reserve and claims that sales have risen significantly since adopting Bitcoin. In October, the chain introduced a promotional “Bitcoin Steakburger” and offered customers $5 in Bitcoin for select purchases. Steak ‘n Shake considered accepting Ethereum as payment based on customer feedback but reversed course after backlash from Bitcoin supporters, stating its focus remains solely on Bitcoin. The company attributes expanding reach and improved sales to its integration of Bitcoin payments and brand promotion strategies.
