Fast-Food Chain Embraces Cryptocurrency, Opening Bitcoin to Over 100 Million Customers

INDIANAPOLIS — Steak ‘n Shake, the iconic American fast-food chain, announced on Thursday that it will begin accepting Bitcoin payments at all its locations starting May 16, 2025. The move, which makes the cryptocurrency available to the chain’s estimated 100 million customers, marks a significant step toward mainstream adoption of digital currencies in the fast-food industry. The announcement, posted on the company’s official X account under the pseudonym “Steaktoshi,” has ignited excitement among crypto enthusiasts and sparked debate about the future of payments in retail dining.

In a statement accompanying the X post, Steak ‘n Shake described the decision as the beginning of a broader movement, saying, “The movement is just beginning….” The chain, known for its steakburgers and milkshakes, operates 493 locations across the United States, Europe, and the Middle East, according to Biglari Holdings’ latest reports. By integrating Bitcoin into its payment systems, Steak ‘n Shake aims to attract tech-savvy customers and position itself as an innovative player in the competitive fast-food market.

Building on Earlier Signals

The announcement follows months of speculation, fueled by a March 7, 2025, X post from Steak ‘n Shake asking, “Should Steak ‘n Shake accept Bitcoin?” The question drew responses from prominent crypto advocates, including Jack Dorsey, former Twitter CEO and Block Inc. founder, who replied with a simple “yes.” Other figures, like Bitcoin Core contributor Luke Dashjr, also voiced support, amplifying the buzz. Reports from Bitcoin News and BitcoinWorld noted that over 100 million customers could soon use Bitcoin at the chain, a projection now realized with Thursday’s announcement.

Steak ‘n Shake’s move aligns with its recent alignment with pro-cryptocurrency sentiments, including a promotional poster featuring the Bitcoin logo and the slogan “Send Butter to Mars,” a nod to Elon Musk’s space ambitions. The chain’s adoption of Bitcoin builds on its history of adapting to modern trends, such as introducing self-serve kiosks in 2021 and switching to beef tallow fries in March 2025, a decision praised by U.S. Health and Human Services Secretary Robert F. Kennedy Jr.

Potential Benefits and Challenges

Accepting Bitcoin offers several advantages for Steak ‘n Shake. The chain could tap into the growing cryptocurrency community, attracting younger, digitally native customers. Bitcoin transactions may also reduce processing fees compared to traditional credit card payments and enable faster settlements, particularly for international locations. Additionally, the move enhances the brand’s image as forward-thinking, a critical edge in a market dominated by competitors like Chipotle, which began accepting cryptocurrencies in 2022 through Flexa.

However, challenges remain. Integrating Bitcoin into point-of-sale systems requires significant technical upgrades, including staff training and customer education to ensure smooth transactions. Regulatory uncertainties surrounding cryptocurrencies, coupled with security concerns like fraud prevention, pose risks. Steak ‘n Shake has not yet detailed its implementation plan, but industry experts suggest partnerships with payment processors like Block or BitPay, which already enable crypto transactions for gift cards at the chain.

A Broader Trend in Fast Food

Steak ‘n Shake joins a growing list of fast-food chains experimenting with cryptocurrencies. Chipotle’s 2022 partnership with Flexa allowed payments in 98 digital currencies, while Shake Shack tested Bitcoin rewards through Block’s Cash App in 2022. Burger King and Quiznos have also explored crypto promotions, signaling a shift toward digital currencies as younger customers demand innovative payment options. Steak ‘n Shake’s full-scale adoption, however, sets a new benchmark, potentially pressuring competitors to follow suit.

As May 16 approaches, Steak ‘n Shake is expected to release details on how Bitcoin payments will be processed, including any partnerships with crypto payment platforms. For now, the chain’s bold move has positioned it at the forefront of a financial revolution, with its 100 million customers poised to bring Bitcoin closer to the mainstream. Whether this sparks a broader “movement” in fast food remains to be seen, but Steak ‘n Shake’s gamble is already making waves.