Crypto: Steak 'n Shake Announces $10m Notional Increase On Bitcoin Holdings

The company began accepting Bitcoin as a method of payment in May 2025, following hundreds of store closures between 2018 and 2025.

Steak ‘n Shake, a fast-food restaurant chain that accepts Bitcoin (BTC) payments at its stores, announced on Friday that its BTC corporate treasury grew by $10 million in notional value.

“All Bitcoin sales go into our strategic Bitcoin reserve,” the company said, adding that adopting BTC as a treasury asset has led to a flywheel effect that increases same-store sales, which, in turn, grows the company’s BTC stash.

In May 2025, the company announced it would start accepting BTC as a method of payment at all its locations worldwide, in a phased rollout.

The Bitcoin community celebrated the announcement, with many sharing their Steak ‘n Shake receipts showing payment in BTC, and in November 2025, the company announced its expansion into El Salvador, a country known for its pro-Bitcoin policies.

Cointelegraph reached out to Steak ‘n Shake, but did not receive a response by the time of publication.

The company’s decision to accept BTC for payments showcases the growing adoption of Bitcoin payments by businesses, bolstering Bitcoin’s use as a medium of exchange, rather than simply as a store-of-value asset or a speculative financial instrument.

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Steak ‘n Shake’s quarter-over-quarter same-store sales rose by 11% in Q2 2025, which it attributed to its adoption of Bitcoin.

The Q3 2025 same-store sales increased by 15%, according to Steak ‘n Shake, beating out industry competitors including McDonalds, Domino's, and Taco Bell.

Source: CoinTelegraph