In the bustling epicenter of innovation, Las Vegas, Steak n’ Shake has taken a bold leap into the digital frontier by embracing Bitcoin as a payment method. Just two weeks into this venture, the fast-food chain’s COO, Dan Edwards, hailed it as a triumph for everyone involved. At the Bitcoin 2025 conference—an event teeming with the sharpest minds in cryptocurrency—Edwards shared insights that could reshape the economic landscape for businesses everywhere.
Bitcoin’s Bite: A Financial Game-Changer
Edwards was unequivocal about the benefits of Bitcoin transactions. He noted that the company slashed its processing fees in half compared to traditional credit card fees. “When customers choose to pay in Bitcoin instead of credit cards, we are saving about 50% in our processing fees,” Edwards remarked, underscoring the significant financial edge Bitcoin offers. He painted a picture of Bitcoin as a win-win-win: for customers, for the company, and for the broader Bitcoin community. It seems that for Steak n’ Shake, adopting Bitcoin isn’t just a dip into digital currency; it’s a full dive into a new economic strategy.
The numbers back him up. On May 16, the very day Steak n’ Shake began accepting Bitcoin, the company accounted for one in every 500 global Bitcoin transactions. This statistic isn’t just a number—it’s a testament to the rapidly growing acceptance of cryptocurrency in everyday commerce. This follows a pattern of institutional adoption, which we detailed in Visa and Baanx Launch USDC Stablecoin Payment Cards.
More Than Just a Burger: Expanding Horizons with Bitcoin
But wait, there’s more. Edwards revealed that Bitcoin isn’t just for burgers and fries. The company is opening the doors for potential franchisees to purchase franchises using the cryptocurrency. “Accepting Bitcoin allows us to meet our customers where they are,” Edwards explained, emphasizing the chain’s commitment to customer flexibility and innovation. By putting Bitcoin on par with cash and credit cards, Steak n’ Shake is not just embracing a trend; it’s setting a new standard for payment options. As explored in our recent coverage of Mesh Adds Apple Pay to Let Shoppers Spend Crypto, Settle in Stablecoins, the integration of diverse payment methods is becoming a key strategy for businesses aiming to cater to tech-savvy consumers.
Steak n’ Shake’s move comes at a time when businesses are increasingly exploring cryptocurrencies as viable payment methods. Analysts have noted a broader trend: companies are eager to reduce transaction costs and offer new payment solutions to tech-savvy consumers. “This is a pivotal moment,” said crypto analyst Jamie Lin. “By integrating Bitcoin, Steak n’ Shake is positioning itself as a forward-thinking leader in the fast-food industry.”
Looking Ahead: The Future of Fast Food and Technology
As Steak n’ Shake rides the wave of Bitcoin’s success, the company is also eyeing other technological innovations. Edwards hinted at a future where robo-taxis, cyber-chefs, and drones could become part of the restaurant’s operational fabric. It’s a vision that blends culinary arts with cutting-edge technology, aiming to deliver not just food, but an experience that aligns with the digital age.
Yet, questions linger. Can this trend sustain its momentum? Will other major chains follow suit, or will the volatility of cryptocurrencies like Bitcoin deter them? The answers remain to be seen, but Edwards is optimistic. “We’re committed to exploring how technology can enhance our operations and customer experiences,” he said, hinting at a future that’s as fast-paced as the food itself.
In a world where digital currency is steadily becoming mainstream, Steak n’ Shake’s bold move may just be the tip of the iceberg. The implications for the fast-food industry—and beyond—could be profound, setting the stage for a new era of financial and operational innovation. Keep an eye on this space, as the confluence of fast food and fast tech promises to serve up surprises in 2025 and beyond.
Source
This article is based on: Steak n’ Shake COO Says Bitcoin Payments Cut Processing Fees in Half
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
