Steak ’n Shake becomes first US fast food chain to launch Bitcoin reserve, offering $5 in BTC with bitcoin-themed meals, here’s how to claim yours

Steak ’n Shake, the 91-year-old American fast-food chain best known for steakburgers and milkshakes, announced that it has launched a Strategic Bitcoin Reserve and will funnel all Bitcoin payments it receives into that treasury, a bold new step that makes the company one of the first major US restaurant chains to adopt a corporate Bitcoin reserve. The move comes as the chain doubles down on crypto-friendly marketing that executives say is already boosting sales and cutting payment costs.

Steak ’n Shake, the iconic fast-food chain headquartered in Indianapolis, Indiana, is best known for its signature steakburgers and hand-dipped milkshakes. The brand operates hundreds of restaurants across the United States as well as in France, Italy, Portugal, and Monaco.

The chain also announced that it will donate 210 satoshis from every Bitcoin-themed meal sold over the next 12 months to the OpenSats Initiative, a nonprofit organization that supports open-source projects within the Bitcoin ecosystem.

The restaurant has also partnered with the Fold App to offer customers $5 worth of Bitcoin when they sign up after purchasing a Bitcoin Steakburger. Details on how to redeem the reward will be printed directly on each receipt.

The crypto-focused strategy seems to be yielding results. Steak ’n Shake reported a 15 percent increase in same-store sales in its latest quarter, surpassing its competitors.

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“Thank you, Bitcoiners, for helping change the trajectory of Steak ’n Shake,” the company said.

When it all started

On May 16, the 91-year-old Steak ’n Shake announced it will accept Bitcoin globally via the Lightning Network. To celebrate the milestone, Steak ’n Shake introduced a limited-edition Bitcoin Steakburger.

The move drew public backing from Jack Dorsey, co-founder of Twitter and Block, Inc., a longtime Bitcoin advocate. Dorsey even posted photos on X showing himself buying fries at the restaurant with Bitcoin.

At the Bitcoin 2025 conference in Las Vegas on May 26, Steak ’n Shake executive Dan Edwards revealed that the company had reduced payment processing costs by roughly 50 percent as customers increasingly opted to pay with Bitcoin instead of credit cards.

Since adopting Bitcoin, the fast-food chain has built a loyal following within the Bitcoin community. However, when Steak ’n Shake briefly considered accepting Ethereum (ETH) payments, it faced strong backlash from Bitcoin maximalists, leading the company to scrap the plan.

According to the Street website, beginning October 31, customers at approximately 400 Steak ’n Shake locations across the US can claim $5 in Bitcoin rewards by visiting bitcoinmealdeal.com, uploading their receipt, and redeeming the reward through the Fold App.

Once users download the Fold App and create an account, they can collect their Bitcoin reward and continue earning BTC on future purchases. Each customer is limited to one redemption per promotion, which will run while supplies last.

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