Finance
What to know:
- Steak ‘n Shake claims a dramatic rise in same-store sales and a 50% cut in processing fees since accepting bitcoin, which is basically a wizard’s spell for cash flow.
- Bitcoin payments are funneled into a Strategic Bitcoin Reserve, which is basically a wizard’s treasury for employee bonuses. Who knew burgers could fund a dragon’s hoard?
- Steak n Shake added $10 million in bitcoin to its corporate treasury, unveiled a bitcoin-themed burger, and donates a portion of bitcoin meal sales to open-source bitcoin development. Because nothing says “I’m a modern business” like a burger that costs a fraction of a pixel.
Fast food chain Steak ‘n Shake has said its decision to accept bitcoin nine months ago has seen same-store sales rise “dramatically.” This is either a miracle, a marketing ploy, or the universe finally realizing that a cheeseburger and a blockchain can coexist in harmony.
Bitcoin payments are routed directly into its Strategic Bitcoin Reserve, which is then used to fund bonus payments for its employees, according to a statement posted on the company’s X account on Monday. A 50% cut in fees? That’s like finding a gold coin in a haystack, but for businesses.
“Nine months ago today, Steak ‘n Shake launched its burger-to-Bitcoin transformation when we started accepting bitcoin payments,” the company wrote. “Our same-store sales have risen dramatically ever since.” If only the same could be said for their life choices.
The company revealed earlier this year it added $10 million worth of bitcoin to its corporate treasury, as part of a “self-reinforcing” cycle where customers pay in BTC, sales rise, and crypto revenue flows into the reserve. A loop so clever, it might as well be a spell from a grimoire.
Stake ’n Shake started accepting bitcoin payments in May of last year via the Lightning Network. Since then, it initially saw a 10% uptick in same-store sales, with the company’s COO, Dan Edwards revealing the firm saves about 50% in processing fees when customers pay in cryptocurrency. A 50% cut in fees is like getting a discount from a dragon’s hoard, but with fewer fireballs.
In October, the fast food chain unveiled a Bitcoin-themed burger and started donating a small portion of each Bitcoin Meal to open-source Bitcoin development. Because nothing says “I’m a modern business” like a burger that costs a fraction of a pixel.
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2026-02-17 12:28