In a bold move that underscores the shifting landscape of digital currency, Steak ‘n Shake has declared its intent to start accepting Bitcoin payments at all its outlets across the United States starting May 16. This pioneering step makes the beloved fast-food chain one of the few in the industry to embrace cryptocurrency on a large scale, potentially reaching over 100 million customers. Announced with a playful nod to the crypto community under the pseudonym “Steaktoshi,” the decision not only marks a new chapter for the company but also reflects a broader trend toward the mainstream acceptance of digital currencies.
Crypto on the Menu
Steak ‘n Shake’s decision follows a curious social media campaign launched in March when the chain teased its Bitcoin ambitions with a simple question: “Should Steak ‘n Shake accept Bitcoin?” The question sparked a flurry of responses from the crypto world, including a swift affirmative from Bitcoin enthusiast Jack Dorsey. The buzz has been building since then, with the company engaging its audience through Bitcoin-themed marketing campaigns and cryptic hints about the future of payments.
In April, the chain hinted at its crypto-forward vision by declaring, “The future is bright.” This optimism is mirrored in their strategic maneuvers, which have included alliances with Tesla-themed promotions, adding a layer of tech-savvy allure to their brand image. While Steak ‘n Shake was unavailable for direct comment, their actions speak volumes about their commitment to innovation in the fast-food sector. This move aligns with broader trends in the payment industry, such as Visa and Baanx’s launch of USDC stablecoin payment cards, which further integrate digital currencies into everyday transactions.
A Growing Trend in Fast Food
Steak ‘n Shake is not alone in its crypto journey. The fast-food industry at large is gradually warming up to the idea of digital payments. Chipotle, for instance, has been accepting nearly 100 types of cryptocurrencies via Flexa since 2022, while Subway was an early adopter, piloting Bitcoin payments as far back as 2013. KFC ran a “Bitcoin Bucket” promotion in Canada in 2018, and McDonald’s has embraced Bitcoin in its Lugano locations, thanks to a local initiative. Even Burger King has dipped its toes into the crypto waters, accepting Bitcoin in select countries like Germany and Venezuela.
The trend extends beyond mere promotional gimmicks. It’s part of a larger narrative about the integration of cryptocurrencies into everyday transactions. This shift is particularly poignant considering the historical roots of Bitcoin’s association with food: the legendary Bitcoin Pizza Day, commemorated on May 22, marks the first real-world transaction using Bitcoin when Laszlo Hanyecz purchased two pizzas for 10,000 BTC in 2010. Similarly, Mesh’s addition of Apple Pay to let shoppers spend crypto and settle in stablecoins highlights the increasing versatility and acceptance of digital currencies in the retail sector.
Implications and the Road Ahead
The decision by Steak ‘n Shake to accept Bitcoin raises intriguing questions about the future of cryptocurrency in the consumer sector. While digital currencies have been primarily viewed as investment vehicles, their use in retail and everyday transactions is gaining traction. The move by Steak ‘n Shake may encourage other chains to reconsider their payment strategies, potentially accelerating the adoption of digital currencies.
However, this shift is not without its challenges. Bitcoin’s volatility remains a concern for businesses and consumers alike, posing questions about pricing strategies and transaction processing. Yet, for many in the crypto space, these hurdles represent opportunities for innovation and adaptation.
As Steak ‘n Shake prepares to roll out Bitcoin payments, the industry watches closely. Will this be the watershed moment for crypto in fast food? The answers may unfold as more companies explore the potential of digital currencies in the months and years to come. One thing is certain: the “movement” that Steak ‘n Shake alluded to is indeed just beginning, and its impact on the fast-food industry could be transformative.
Source
This article is based on: Bitcoin accepted at fast food chain Steak ’n Shake from May 16
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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.
