Steak ‘n Shake, the US fast-food chain known for embracing Bitcoin payments, is expanding into El Salvador, the first country to adopt BTC as legal tender.
Key Takeaways:
- Steak ‘n Shake is expanding into El Salvador after becoming one of the most prominent US fast-food chains to adopt Bitcoin payments.
- The company attributes an 11% Q2 sales boost and a 15% Q3 jump to its Bitcoin integration.
- A brief attempt to consider ETH payments sparked backlash, prompting the chain to reaffirm its allegiance to Bitcoin users.
The company announced the move on Saturday after participating in the Bitcoin Histórico event held in San Salvador earlier in the week.
“We were honored to be in Bitcoin Country,” the company wrote on X, signaling deeper involvement in the nation’s crypto-driven economy.
Steak ‘n Shake’s Bitcoin Push Drives 11% Surge in Q2 Sales
The expansion follows Steak ‘n Shake’s decision in May to begin accepting Bitcoin across its US stores.
So far, the strategy appears to be paying off. Steak ‘n Shake credited nearly an 11% jump in same-store sales in Q2 to its Bitcoin payments rollout, positioning the brand as one of the most visible corporate adopters of the asset.
Its embrace of Bitcoin has cemented the chain as a recognizable player within the crypto community, highlighting a growing trend of merchants integrating BTC for everyday purchases.
Advocates argue that real-world, low-value transactions are essential stepping stones toward broader adoption.
However, the company briefly stirred controversy in October after polling its followers on whether it should also accept Ether (ETH).
Of the 48,815 votes cast, 53% supported the idea, triggering immediate backlash from Bitcoin maximalists.
“ETH is centralized garbage. Bitcoin is freedom,” one user wrote, warning the chain against expanding beyond BTC. Within hours, Steak ‘n Shake reversed course.
“Poll suspended. Our allegiance is with Bitcoiners… Who even allowed this?” the company posted on X on the same day the poll launched.
Despite the brief stumble, Steak ‘n Shake continued its strong financial performance into Q3, reporting a 15% quarter-over-quarter increase in same-store sales.
The company outpaced McDonald’s, Burger King, Taco Bell, and Starbucks, marking one of the most impressive growth runs in the fast-food sector.
Steak ‘n Shake Launches Bitcoin Treasury, Donates Sats
Earlier this month, Steak ‘n Shake launched a Bitcoin treasury, committing to store all BTC received from customer payments in a dedicated reserve.
The company announced the initiative on X, calling it the next step in strengthening its long-term Bitcoin strategy.
As part of the rollout, Steak ‘n Shake will donate 210 satoshis for every “Bitcoin Meal” sold, with funds directed to OpenSats to support Bitcoin Core and open-source development.
The company is expanding its engagement further through a partnership with Bitcoin rewards app Fold.
Customers who buy a “Bitcoin Meal” or “Bitcoin Steakburger” will receive $5 in BTC, redeemable through Fold.
The promotion, available across 400 US locations, aims to introduce Bitcoin to everyday consumers.
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