Bitcoin Magazine

Steak ’n Shake Launches First-Ever Strategic Bitcoin Reserve

Steak ’n Shake is making history as the first major restaurant to establish a Strategic Bitcoin Reserve. 

All payments received in Bitcoin will now be added to their Strategic Bitcoin Reserve (SBR), marking a fun and major step into bitcoin adoption for the fast-food chain.

As part of the initiative, the company will donate 210 sats from every Bitcoin Meal sold to the Open Sats Initiative, Inc. over the next 12 months. 

Customers who purchase and register their Bitcoin Steakburger through the Fold App will also receive $5 in free Bitcoin, with instructions provided on their receipts.

The move comes on the heels of a strong quarter, with same-store sales up 15% — outpacing all competitors — highlighting the growing impact of cryptocurrency engagement on the restaurant’s bottom line.

JUST IN: Fast food giant Steak 'n Shake announces its created a Strategic #Bitcoin Reserve

They're also donating to open source bitcoin development pic.twitter.com/Mod3XDfMX8

— Bitcoin Magazine (@BitcoinMagazine) October 31, 2025

Steak ‘n Shake partners with Fold

Earlier today, the company and Fold Holdings launched a limited-time promotion at more than 1,200 Steak ’n Shake locations, letting customers earn $5 in bitcoin with their Bitcoin Meal or Bitcoin Steakburger.

Diners simply upload their receipt to bitcoinmealdeal.com, redeem a code through the Fold app, and instantly receive their reward. 

The promotion marks the first U.S. restaurant menu item tied to bitcoin rewards, with the Bitcoin logo even stamped on the burger bun as a nod to mainstream adoption. 

The campaign coincides with the 17th anniversary of the Bitcoin white paper and builds on Steak ’n Shake’s earlier adoption of Lightning Network payments. 

Fold, which holds roughly 1,500 BTC, continues expanding its bitcoin rewards ecosystem.

Bitcoin improving payment speed

At the Bitcoin 2025 Conference, Steak ‘n Shake executive Dan Edwards highlighted the company’s global adoption of Bitcoin payments via the Lightning Network. 

He noted that Bitcoin transactions immediately exceeded expectations, with one in every 500 global Bitcoin transactions occurring at Steak ‘n Shake on launch day

Edwards said that accepting Bitcoin reduced processing fees by 50%, benefiting both the company and customers. 

He stressed that the initiative was a genuine payment upgrade, not a marketing stunt, and reported that customer behavior had shifted positively since implementation. 

Steak ‘n Shake reported that customer behavior has already shifted. “We’ve seen a sustained spike since adding Bitcoin,” Edwards noted. 

Edwards also teased the company’s future plans, calling for more technical talent. “We’re not done. We’re investing in cyber chefs, autonomous drives, AI tech — and we need engineers to help us build it.” 

This post Steak ’n Shake Launches First-Ever Strategic Bitcoin Reserve first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Steak ’n Shake Partners With Fold to Launch $5 Bitcoin Burger Reward

Fold Holdings (NASDAQ: FLD), the bitcoin rewards company known for letting users earn sats on everyday purchases, has teamed up with iconic fast-food chain Steak ’n Shake for a limited-time promotion that lets customers earn $5 in bitcoin with their meal.

Starting today, Steak ’n Shake diners who order a Bitcoin Meal or Bitcoin Steakburger at one of the 1,200+ participating Steak ’n Shake locations can visit bitcoinmealdeal.com, upload their receipt, and receive a code redeemable for $5 in bitcoin through the Fold app. 

Once the Fold app is downloaded and activated, the reward is instantly credited. The partnership marks the first time a U.S. restaurant chain has paired a menu item with bitcoin rewards, blending food, finance, and pop culture in a single bite.

Even the bun carries a message: it’s stamped with a Bitcoin logo, a subtle but unmistakable symbol of how far the orange coin has traveled into mainstream consciousness.

“Bitcoin goes mainstream when it starts showing up in everyday life,” said Fold Chairman and CEO Will Reeves in a note to Bitcoin Magazine. “That’s been our vision from the beginning, and our promotion with Steak ’n Shake is the next step in that journey. For many people, this will be the first time they ever own bitcoin — and it’ll come from something as ordinary as grabbing a burger.”

Steak ‘n Shake loves bitcoin

For Steak ’n Shake, the partnership deepens its ongoing relationship with the Bitcoin community. 

Earlier this year, the 90-year-old chain rolled out Lightning Network payments across all U.S. locations, allowing customers to pay for meals using bitcoin with instant, low-fee transactions. 

The company even sparked headlines when it publicly scrapped plans to accept Ethereum, declaring its “allegiance” to Bitcoiners.

Now, it’s taking that loyalty a step further.

“Steak ’n Shake has never been afraid to take a bold position, and putting bitcoin on the menu is the latest example,” said Sardar Biglari, CEO of Steak ’n Shake. “Bitcoin is rewriting the rules of culture and commerce, and we want our guests to be part of that future every time they sit down for a meal.”

Fold, which went public earlier this year through a SPAC merger, currently holds roughly 1,500 BTC in its corporate treasury — valued near $160 million — and maintains a market cap just under $200 million. 

The company recently launched a bitcoin rewards Visa card powered by Stripe and continues to expand its product suite bridging traditional finance and Bitcoin-native tools.

The campaign — launching today, a date that coincidentally marks the 17th anniversary of the Bitcoin white paper — runs nationwide while supplies last. For both companies, it’s a symbolic nod to Bitcoin’s evolution from white paper to burger wrapper.

This post Steak ’n Shake Partners With Fold to Launch $5 Bitcoin Burger Reward first appeared on Bitcoin Magazine and is written by Micah Zimmerman.